Indian Rupee Slides To 4-day Low Against U.S. Dollar
January 14 2022 - 12:31AM
RTTF2
The Indian rupee depreciated against the U.S. dollar in evening
deals on Friday, as regional stocks fell, tracking weak global
cues, after several Fed officials indicated faster rate hikes to
contain price pressures.
The benchmark S&P BSE Sensex dropped 12 points, or 0.02
percent, to 61,223, while the broader NSE Nifty index was down 2
points, or 0.01 percent, at 18,256.
Fed Vice Chair nominee Lael Brainard suggested that the central
bank is likely to start lifting interest rates as soon as it ends
its bond purchase programme in March.
The rupee fell to a 4-day low of 74.21 against the greenback
from Thursday's close of 73.94. The next possible support for the
rupee is seen around the 76.00 level.
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