United States Dollar vs Indian R (FX:USDINR)
3 Years : From Aug 2011 to Aug 2014
In early deals on Tuesday, the Indian rupee weakened against the U.S. dollar. The rupee fell to 55.635 per dollar for the first time since August 6. On the downside, the rupee may target 55.8 level. The rupee ended Monday's deals at 55.3438 against the dollar.
RBI governor said yesterday that rain shortfall in several parts of the country could put pressure on some commodities. Delivering a lecture on 'India in a Globalizing World: Some Policy Dilemmas', he stuck to a hawkish tone, emphasizing that the central bank was not comfortable with current inflation levels above 7 percent.
Wholesale price index for July is due later in the day.