Rupee weakens past 72 marks to hit fresh eight-month low | Ethical Research Updates

Ethical Research
Aug 23 · 1 min read

The 10-year government bond yield was at 6.577%
The currency opened at 71.95 to a dollar, level last seen on December, 2018

The Indian rupee weakened past the 72-per-dollar mark to hit a fresh eight-month low as traders exercised caution ahead of the speech by Federal Reserve chairman Jerome Powell which may provide clues on possible interest rate cuts.

The currency opened at 71.95 to a dollar and touched a low of 72 — a level last seen on 14 December 2018. At 9:11 am, the domestic currency was trading at 71.97, down 0.19% from its previous close of 71.82.

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