Indian Rupee Extends Decline To 2-week Low Against U.S. Dollar

07:57, 31st July 2014

(RTTNews) - The Indian rupee continued its early decline against the U.S. dollar in later deals on Thursday, as regional stocks fell amid weak cues from Europe after Argentina defaulted on its debt for the second time in 13 years.

The benchmark S&P BSE Sensex ended the session down 192.45 points or 0.74 percent at 25,894.97, while the broader CNX Nifty index fell by 70.10 points or 0.90 percent to 7,721.30.

The rupee dropped to 60.615 against the greenback for the first time since June 18. The next downside target level for the rupee is seen around the 61.00 zone. The pair was worth 60.075 at yesterday's close.