The Indian rupee weakened against the U.S. dollar in the morning deals on Thursday, after the U.S. Federal Reserve signaled that it may increase its interest rate at its next meeting in December, reviving concerns over potential capital outflows.
Against the greenback, the rupee fell to an 8-day low of 65.2300 from an early high of 65.1500. At yesterday’s close, the rupee was trading at 64.8400 against the greenback.
If the rupee extends its downtrend, it is likely to find support around the 66.00 area.
The material has been provided by InstaForex Company – www.instaforex.com