News Column

Indian Rupee Extends Decline To 2-week Low Against US Dollar

July 31, 2014

NEW DELHI (Alliance News) - The Indian rupee continued its early decline against the US dollar in later deals on Thursday, as regional stocks fell amid weak cues from Europe after Argentina defaulted on its debt for the second time in 13 years.

The benchmark S&P BSE Sensex ended the session down 192.45 points or 0.74% at 25,894.97, while the broader CNX Nifty index fell by 70.10 points or 0.90% to 7,721.30.

The rupee dropped to 60.615 against the greenback for the first time since June 18. The next downside target level for the rupee is seen around the 61.00 zone. The pair was worth 60.075 at yesterday's close.

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Source: Alliance News

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