ND: Indian Rupee Declines To 5-Day Low Versus US Dollar
Tuesday during early deals, the Indian rupee declined against its US counterpart. At about 11:40 pm ET, the rupee touched a 5-day low of 49.0350 against the greenback, compared to 48.5250 hit late Monday in New York. As of now, the pair is trading at 48.97. The next downside target level for the Indian currency is seen around the 49.475 level.
The Indian market is tumbling on the back of weak cues from the global markets. After opening lower at 9,160, the BSE Sensex is now trading near the day's low of 9,086, down 244 points or 2.62%, while the S&P CNX Nifty at 2,771, is also losing 2.65%. The broad-based BSE 500 index is declining 2.15%, while the small-cap and the mid-cap indexes are down a little less than 1.0% each.
