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  • Jan 24, 2018

India Rupee At 8-Week Low As Equity Sell-Off Hurts Risk Appetite

The Indian rupee fell to a near eight-week low against the dollar in early session, as another equity sell-off following an upbeat U.S. economic data drove yields higher and boosted Dollar demand. Risk-off sentiment in the global markets weighed on the rupee, even as lower crude oil prices gave some relief to the local currency. A U.K.-based lender sold dollars in early trade, likely on behalf of a corporate client along with a large private lender.

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