Indian Rupee Drops To 4-day Low Against U.S. Dollar
07 Agosto 2022 - 10:35PM
RTTF2
The Indian rupee weakened against the U.S. dollar in afternoon
deals on Monday, as strong U.S. non-farm payrolls report
intensified expectations for aggressive interest rate hikes by the
Federal Reserve.
Expectations for another 75 basis-point rate hike at the
September meeting have grown following the data.
The Indian rupee dropped to a 4-day low of 79.59 against the
greenback from Friday's close of 79.35. Immediate support for the
currency is possibly seen around the 80.00 level.
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