Advertisement
Indian Rupee Weakens To Near 5-week Low Against U.S. Dollar
(RTTNews) - The Indian rupee was lower versus the U.S. dollar in the evening session on Tuesday, as strong U.S. economic data raised concerns that the Federal may raise interest rates more than expected.
Overnight data showed that U.S. service sector activity unexpectedly grew at an accelerated rate in the month of November.
The data fuelled fears that the Fed could raise interest rates for longer.
Traders looked ahead to the Reserve Bank of India's monetary policy announcement, due on Wednesday. The RBI is expected to raise lending rate by 35 basis points to 6.25 percent from 5.9 percent.
The Indian rupee depreciated to 82.64 against the greenback, its lowest level since November 4. If the currency falls further, it may challenge support around the 83.00 level.
Indian Rupee Falls To 5-day Low Against U.S. Dollar
Indian Rupee Rises To 4-day High As Border Tensions Ease
Indian Rupee Falls To Near 4-week Low Amid India-Pakistan Tensions
Indian Rupee Rises On Trade-deal Hopes
Indian Rupee Falls To 2-day Low Against U.S. Dollar
Indian Rupee Falls To 3-week Low As RBI Cuts Repo Rate By 25 Bps
Indian Rupee Rises To Near 4-month High Amid Trump's Reciprocal Tariffs
