BREAKING NEWS
RUPEE WEAKENS 0.4% TO 66.0275/$, LOWEST LEVEL SINCE MARCH 2017
Rupee Hits Over 1-Year Low Against U.S. Dollar
Rupee fell below 66 mark against U.S. dollar for the first time since March 2017 after Reserve Bank of India’s Monetary Policy Committee minutes showed a surprisingly hawkish tone.
Central bank deputy governor Viral Acharya said he is likely to shift decisively to vote for a beginning of “withdrawal of accommodation” at the June meeting.
Read More: Bonds in India Set for Rout on Unexpectedly Hawkish RBI Minutes
The rupee fell as much as 0.4 percent to 66.06 per U.S. dollar against yesterday’s close of 65.79.