Rupee Declines Amid Dollar Demand & Data

  Published 1 year ago

The Indian rupee fell to 85.6575 against the dollar due to importer demand, a stronger greenback after positive US consumer confidence data, and anticipation of portfolio outflows from a major block deal involving ITC. Bond yields also eased.

  • The rupee weakened 0.3% to 85.6575 against the USD.
  • ITC block trade ($1.4B) fuels speculative pressure.
  • Bond yields fall on rate cut expectations.

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