Indian Rupee Slides To Near 5-month Low vs U.S. Dollar

RTT -The Indian rupee lost ground against the U.S. dollar in evening deals on Friday, as regional stocks declined on rising capital outflows amid expectations of higher interest rates in the U.S. and on fears of acute cash crunch arising out of the government's move to demonetize Rs 500 and Rs 1,000 notes.

Indian Rupee Slides

The benchmark S&P BSE Sensex ended down 77.38 points or 0.30 percent at 26,150.24, while the broader CNX Nifty index slipped 5.85 points or 0.07 percent to 8,074.10.

 

The rupee fell past the key 68 level, declining to near a 5-month low of 68.16 against the greenback. The next downside target for the rupee is seen around the 69.5 level.

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