Indian Rupee Drops To 3-day Low Against U.S. Dollar
02 Setembro 2022 - 1:24AM
RTTF2
The Indian rupee weakened against the U.S. dollar in the
afternoon deals on Friday, ahead of a key U.S. jobs report that
could strengthen the case for more aggressive rate hikes from the
Federal Reserve.
Overnight data showed that U.S. manufacturing activity grew
steadily in August and the number of Americans filing for
unemployment insurance unexpectedly dropped last week, supporting
expectations that the Fed will maintain its aggressive rate-hike
stance.
A dollar gauge hovered near a record high and the two-year
Treasury yield firmed to the highest level since 2007 following the
data.
The Indian rupee declined to a 3-day low of 79.83 against the
greenback from Thursday's close of 79.69. On the downside, 80.00 is
possibly seen as the next support level.
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