RTTN: Indian Rupee Slides To 2-day Low Against Dollar
(RTTNews) - In early deals on Friday, the Indian rupee declined to a 2-day low against the US dollar, tracking weakness in most major currencies.
The Indian stock market opened flat with a negative bias and has been moving in a narrow range on alternate bouts of buying and selling. Positive Asian cues helped improve sentiment, but traders are taking intermittent profits before the release of an U.S. employment report for December, scheduled to be released later in the day. An imminent rate hike in China is also weighing on the market.
Currently, the BSE Sensex is at 17,611, down 5 points or 0.03% and the S&P CNX Nifty is at 5,259, down 0.07%.
At 1:05 am ET, the rupee slipped to a 2-day low of 45.8950 per dollar. If the Indian currency weakens further, it may target the 46.1 level. The dollar-rupee pair that closed yesterday's New York session at 45.65 is presently quoted at 45.82.
