The Indian rupee dropped to its lowest level since 1973 increasing the risks of increasing the inflation rate and prompting higher interest rates, where the decline in Chinese PMI manufacturing is increases the risks of the slowdown in the region.

The Indian rupee fell to be traded at the level of 52.19 against the U.S. dollar reaching its 15% decline in the past four months, which is considered the biggest drop for the Indian rupee.

The Governor of Reserve Bank of India (RBI) announced that the rupee's drop will have an instant influence on the country's inflation; also this drop will add more pressures on the RBI to take control on rates, where India's benchmark wholesale-price inflation rose to 9.73 % in October, along with escalating cost of living in India

Moving to Singapore, where today Singapore's economy announced the annual inflation rate for October, where it dropped to 5.4% compared with the prior month's reading of 5.5%, while it exceeded expectations of 5.2 %.