The Indian rupee weakened against the U.S. dollar in the morning deals on Wednesday, as oil prices dropped for a third day, underscoring worries about global growth.
Against the greenback, the rupee fell to nearly a 2-1/2-year low of 68.2600 from an early high of 67.9500. At yesterday’s close, the rupee was trading at 67.9730 against the greenback.
If the rupee extends its downtrend, it is likely to find support around the 69.00 area.
The material has been provided by InstaForex Company – www.instaforex.com