It may be too early to call it a crisis but the present weakening pressure on the Indian rupee is unlikely to go away any time soon
The Indian rupee (INR) breached above the 65 level against the US dollar this week, a level previously seen in November. The week looks set to end with the biggest weekly INR depreciation since the third week of November 2016, when demonetisation hit the currency hard. A deluge of negative news from derailed consolidation of public finances, which first came to the fore in the third quarter of 2017, to last week’s report of a $1.8bn scam at a nationalised bank have depressed the currency. India’s broader economic performance hasn’t been any friendlier either.
China's Communist Party to recommend end of 2-term limit - Fed's Powell tops the billings in G-7. Draghi also speaks to the European Parliament in Brussels, and UK PM May and UK opposition leader, Corbyn, set out visions for Brexit.