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Forex News: Indian Rupee Declines To 6-day Low Against U.S.

Indian Rupee Declines To 6-day Low Against U.S. Dollar

01/02/2019 - 07:08:00 (RTTNews)

(RTTNews) - The Indian rupee fell against the U.S. dollar in the evening session on Wednesday, as Indian shares fell, tracking weak global cues, as the U.S. government shutdown entered its 12th day and manufacturing data from China disappointed investors.

The rupee fell to 70.07 against the greenback, its weakest since December 27. Next key support for the rupee is seen around the 72.00 region.

Auto shares declined after weak vehicles sales data for December.

The benchmark 30-share BSE Sensex ended the session down 363.05 points or 1.0 percent at 35,891.52 while the broader Nifty index tumbled 117.60 points or 1.08 percent to 10,792.50.

A private survey showed that China's manufacturing sector contracted for the first time in 19 months in December, due to ongoing trade frictions between the world's two largest economies. The Caixin/Markit manufacturing PMI dropped to 49.7 from 50.2 in November.

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