Indian Rupee Off Multi-week Low Versus U.S. Dollar
July 28 2015 - 8:01AM
RTTF2
The Indian rupee bounced off from its previous low against the
U.S. dollar in evening deals on Tuesday, as investor confidence
lifted up on hopes that the fall in international crude prices
would narrow the nation's current account deficit.
With India importing about 80 percent of its oil requirements,
the decline in crude prices would aid the government to reduce its
current account deficit and attract more investors to the
country.
The rupee was trading at 63.905 per greenback, off its early
multi-week low of 64.28. The pair finished yesterday's deals at
64.2390.
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