Indian Rupee Falls To 2-1/2-month Low Against U.S. Dollar
November 25 2015 - 10:12PM
RTTF2
The Indian rupee lost ground against the U.S. dollar in
afternoon deals on Thursday, as the latter firmed after yesterday's
positive U.S. data reinforced expectations about a Fed liftoff in
December.
Odds for a Fed rate hike increased after data showed that
initial jobless claims fell more-than-expected in the week ended
November 21, while durable goods orders increased much
more-than-expected in the month of October.
The rupee declined to 66.665 versus the greenback for the first
time since September 20. The rupee may locate support around the
67.00 zone. Indian forex market was closed yesterday on account of
Gurunanak Jayanti.
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