News Column

Indian Rupee Falls To 5-day Low Against US Dollar

July 6, 2014

NEW DELHI (Alliance News) - The Indian rupee declined against the US dollar in early deals on Monday, as latter lifted up on optimism about the US economy.

Last week's upbeat data on labor market raised speculation that the Federal Reserve may raise interest rates sooner than anticipated, giving the dollar a boost.

The rupee hit 59.915 against the greenback, its weakest since July 2. At last week's close, the pair was worth 59.77. On the downside, 60.2 is seen as next support level for the rupee.

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Source: Alliance News

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