Rupee, Ringgit Slide as Hurricane Shuts U.S. Markets; Yuan Rises
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India’s rupee and Malaysia’s ringgit slid the most among Asian currencies as Hurricane Sandy forced the U.S. to shut equity markets, while China’s yuan rose to a 19-year high on signs of a pickup in the global economy.
The U.S. securities industry canceled trading on all markets today, moving to protect workers as the storm barreled toward New York City with 70-mile-per-hour winds. The country holds its presidential election on Nov. 6, and Democratic Senator Mark Warner of Virginia said the weather would “throw havoc” into the race.