scorecardresearchIndian rupee slips towards 80/dollar as yuan tumbles

Indian rupee slips towards 80/dollar as yuan tumbles

Updated: 07 Sep 2022, 11:10 AM IST
TL;DR.
The partially convertible rupee fell 0.1% to 79.9250 by 0445 GMT, as the dollar index climbed back to a 20-year high after strong U.S. services data made the case for the Federal Reserve continuing on its aggressive interest rate-hike path.
An collectible banknote buyer holds Indian rupee banknotes in Mumbai, India, on Wednesday, July 20, 2022. The rupee slid to all-time low of 80.06 per dollar on Tuesday, and has lost 2.4% over the past month, the third-worst performing Asian currency over the period. Photographer: Dhiraj Singh/Bloomberg

An collectible banknote buyer holds Indian rupee banknotes in Mumbai, India, on Wednesday, July 20, 2022. The rupee slid to all-time low of 80.06 per dollar on Tuesday, and has lost 2.4% over the past month, the third-worst performing Asian currency over the period. Photographer: Dhiraj Singh/Bloomberg