Indian Rupee Hits 2-day Low Against U.S. Dollar

The Indian rupee opened lower against the U.S. dollar amid a decline in regional stocks.

Indian markets fell, tracking weak Asian cues as more disappointing data from Europe overshadowed expectations that policymakers will announce stimulus measures.

The rupee declined to a 2-day low of 55.0705 per dollar and the next downside target level for the rupee is seen at 55.5. The pair finished Wednesday's deals at 54.495.