Indians in Kuwait cash in on rupee’s record plunge

KUWAIT: Despite the lingering fear and uneasiness among the expatriate population in Kuwait, Indians crowded foreign exchange centers across the country yesterday to cash in on the unprecedented plunge of the Indian rupee as the currency plummeted to an all-time low of 59 against the US dollar. A Kuwaiti dinar fetched 207.468 rupees yesterday, a record low for the Indian currency while a dollar traded for almost 59 rupees at one point though it softened subsequently to hover around 58.978 following reports that two Indian banks have intervened in the forex market to check the freefall of the currency.