Indian Rupee Slides To 4-month Low Versus U.S. Dollar
January 05 2020 - 8:33PM
RTTF2
The Indian rupee drifted lower against the U.S. dollar in the
morning session on Monday, as regional shares fell in the wake of
brewing tensions in the Middle East.
The benchmark S&P BSE Sensex tumbled 710 points, or 1.71
percent, to 40,755, while the broader NSE Nifty index was down 213
points, or 1.74 percent, at 12,013.
Investors remain concerned that any kind of violent retaliation
from Iran will disrupt the energy supplies and could lead to a
spike in oil import-dependent countries like India.
The Indian rupee slipped to 72.17 against the greenback, its
weakest since September 4. The rupee is likely to face downside
target around the 74.00 level.
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