Indian Rupee Falls To Record Low Against U.S. Dollar
04 Novembro 2024 - 12:21AM
RTTF2
The Indian rupee weakened against the U.S. dollar in the Asian
session on Monday, due to pressure from the local stock market
outflows and a muted trend in domestic stocks as investors remain
cautious amidst the U.S. presidential elections and the Fed
interest rate decision later this week.
The benchmark S&P/BSE Sensex was down 850 points, or 1.1
percent, at 78,875 in early trade while the broader NSE Nifty index
was down 265 points, or 1.1 percent, at 24,038.
Among other factors that influenced investor sentiment in the
Indian markets include the speculation over an economic stimulus
package from China this week as well as the weaker than expected
earnings and sales figures from the consumer goods companies and
automakers.
In economic news, data compiled by S&P Global showed that
India's manufacturing sector growth accelerated in October as
rising new orders lifted production and confidence. The HSBC final
manufacturing Purchasing Managers' Index rose to 57.5 in October
from an eight-month low of 56.5 in September. The flash reading was
57.4.
Against the U.S. dollar, the rupee fell to a record low of
84.183 from last week's closing value of 84.061.
If the rupee extends its downtrend, it is likely to find support
around against the 85.00 region.
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