The Indian rupee weakened against the U.S. dollar in the morning deals on Thursday, as a rout in oil and other commodities as well as lingering worries about China’s economy sapped investors’ appetite for risk.
Against the greenback, the rupee fell to more than a 2-year low of 67.2000 from an early high of 66.9300. At yesterday’s close, the rupee was trading at 66.8600 against the greenback.
If the rupee extends its downtrend, it is likely to find support around the 68.00 area.
The material has been provided by InstaForex Company – www.instaforex.com