Rupee Hits Record Low for Third Straight Session, Touches 79.6675 Against Dollar

MUMBAI: The Indian rupee hit a file low for a 3rd straight session on Wednesday as international buyers continued to dump riskier property forward of US inflation knowledge that would decide the tempo of tightening on the planet’s largest economic system.

The partially convertible rupee was buying and selling at 79.66/67 per greenback in comparison with its earlier shut of 79.5975. The unit touched a life low of 79.6675.

‚ÄúThere is a common risk-off sentiment. Until flows come again, we are going to see the greenback being bid towards currencies like ours,” a senior dealer at a non-public financial institution mentioned.

Currencies in Asia have come underneath immense strain in current months, with expectations that the US Federal Reserve will hike charges quicker and additional than its friends contributing considerably to the secure haven greenback’s surge.

Read all of the Latest News, Breaking Newshandjob watch Top Videos and Live TV right here.

Source hyperlink

Leave a Reply

Your email address will not be published.