The Indian rupee fell by 2 paise to 64.04 against the US dollar in morning today on month-end demand for the American currency from importers and banks.
Sustained foreign fund outflows and a strong dollar in global markets weighed on the rupee, currency, traders said, adding domestic stock markets opening lower also weakened the sentiment locally.
The US dollar advanced against the euro and yen after strong US growth data fuelled speculations that the Federal Reserve could consider hiking interest rate for a third time this year.
Sustained foreign fund outflows and a strong dollar in global markets weighed on the rupee, currency, traders said, adding domestic stock markets opening lower also weakened the sentiment locally.
The US dollar advanced against the euro and yen after strong US growth data fuelled speculations that the Federal Reserve could consider hiking interest rate for a third time this year.
No comments:
Post a Comment