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Name Symbol Market Type
United States Dollar vs Indian Rupee FX:USDINR Forex Exchange Rate
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.11155 -0.14% 81.194 81.1935 81.1945 81.35 81.05105 81.30555 0 15:48:08

Indian Rupee Drops To 4-day Low Against U.S. Dollar

08/08/2022 4:35am

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US Dollar vs INR (FX:USDINR)
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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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P: V:gb D:20221201 16:03:15