The rupee suffered the worst fall in 16 years in November, plunging nearly 7% and hitting a record low, as persistent dollar demand from importers and portfolio outflows due to global risk aversion pounded the local unit.
In an interview with CNBC-TV18, Peter Elston, Strategist at Aberdeen Asset Management Asia speaks about the European weakness affecting global stock markets. While he urges investors to prepare for some more correction, he suggests the weakness in the Asian space is a great buy call.
According to CNBC-TV18’s managing editor Udayan Mukherjee, the epicenter of global problems has once again shifted from the US to Europe.