Indian Rupee Falls To 2-month Low Against U.S. Dollar
May 18 2016 - 10:24PM
RTTF2
The Indian rupee weakened against the U.S. dollar in the morning
deals on Thursday, as investor sentiment dampened after minutes
from the Federal Reserve's most recent meeting indicated that
"most" of its members are ready to lift rates at the next meeting
on June 14-15, if the data improves.
Losses remained capped somewhat as early trends indicated the
BJP will win in Assam and increase its vote share in the states of
West Bengal, Tamil Nadu and Kerala, as predicted by exit polls.
Against the greenback, the rupee fell to a 2-month low of
67.2600 from an early high of 67.1200. At yesterday's close, the
rupee was trading at 67.1000 against the greenback.
If the rupee extends its downtrend, it is likely to find support
around the 67.80 area.
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