Indian Rupee Slides To 5-day Low Against U.S. Dollar
October 29 2019 - 11:14PM
RTTF2
The Indian rupee weakened against the U.S. dollar in morning
deals on Wednesday, as investors cautiously awaited the Fed
decision due later in the day.
The Fed is widely expected to reduce interest rates by another
quarter point.
Optimism over a U.S.-China phase-one deal receded after reports
suggested an interim deal may not be signed by a summit in Chile
next month.
The Indian rupee declined to a 5-day low of 70.83 against the
greenback, from Tuesday's closing value of 70.68. The next possible
support for the rupee is seen around the 72.00 region.
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