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Forex News: Indian Rupee Slides To 4-day Low Against U.S.

Indian Rupee Slides To 4-day Low Against U.S. Dollar

01/14/2022 - 05:31:00 (RTTNews)

(RTTNews) - The Indian rupee depreciated against the U.S. dollar in evening deals on Friday, as regional stocks fell, tracking weak global cues, after several Fed officials indicated faster rate hikes to contain price pressures.

The benchmark S&P BSE Sensex dropped 12 points, or 0.02 percent, to 61,223, while the broader NSE Nifty index was down 2 points, or 0.01 percent, at 18,256.

Fed Vice Chair nominee Lael Brainard suggested that the central bank is likely to start lifting interest rates as soon as it ends its bond purchase programme in March.

The rupee fell to a 4-day low of 74.21 against the greenback from Thursday's close of 73.94. The next possible support for the rupee is seen around the 76.00 level.

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