Indian Rupee Falls To 2-year Low Against U.S. Dollar
August 13 2015 - 2:31AM
RTTF2
The Indian rupee weakened against the U.S. dollar in the morning
deals on Thursday, as worries over China lowering the yuan's
reference rate further continued to linger.
The People's Bank of China lowered its daily reference rate 1.1
percent to 6.4010 yuan per dollar on Thursday, following reductions
of 1.6 percent on Wednesday and 1.9 percent on Tuesday.
The regional bond yields fell after the nation's consumer
inflation eased more than estimated in July, raising the
possibility of more policy easing.
Against the greenback, the rupee fell to a 2-year low of 64.9900
from an early high of 64.5500. At yesterday's close, the rupee was
trading at 64.8500 against the greenback.
If the rupee extends its downtrend, it is likely to find support
around the 69.00 area.
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