Indian Rupee Falls To Near 16-month Low Against U.S. Dollar
October 12 2021 - 02:00AM
RTTF2
The Indian rupee fell against the U.S. dollar in the evening
session on Tuesday, on worries that elevated oil prices may worsen
the outlook on the current account.
Rising oil prices could lead to a spike in imported inflation
and have a spiralling impact on the prices across other
sectors.
The Indian rupee dropped to 75.67 against the greenback, a level
unseen since June 2020. The rupee may find downside target around
76.
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