DISCLAIMER: This is a compilation of tweets being shared by netizens around the world. Times of India neither condones nor endorses any of the views shared in this article here.The Indian rupee fell to a record low as dollar strength dented demand for riskier assets and foreigners continued to dump the nation’s stocks.
The rupee dropped as much as 0.7% to 77.4337 a dollar on Monday, slipping past the previous all-time low of 76.9812 touched in March.
Stocks extended declines, with the benchmark S&P BSE sensex Index retreating 1.5%.
A surprise rate hike by the
Reserve Bank of India hasn’t been able to stem the rupee’s decline as a widening current-account deficit amplifies concerns.
As a result of the rupee plunging to a record low,
Twitter was flooded with memes and one-liners mocking the situation and the policies responsible for the slump.