Indian Rupee Slides To 2-day Low Against U.S. Dollar
July 30 2015 - 7:39AM
RTTF2
The Indian rupee traded lower against the U.S. dollar in evening
deals on Thursday, as emerging assets were hurt after the Federal
Reserve gave an upbeat assessment on the economy, reinforcing the
possibility for a September rate hike.
At its monetary policy statement released on Wednesday, the Fed
didn't give a clear signal on its rate plan. However, its positive
view on the U.S. economy was interpreted by markets that it looks
to raise rates in near future.
The rupee declined to a 2-day low of 64.06 versus the greenback,
and held steady thereafter. The pair was valued at 63.8520 at
Wednesday's close. The rupee is likely to find support around the
65.00 zone.
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