RTTN:Indian Rupee Trades At 5-day Low Against US Dollar
(RTTNews) - The Indian rupee eased to 5-day low of 44.61 against the US dollar on Monday, moving off its early Asian session's new multi-day high of 44.3850. The dollar-rupee pair stabilized shortly after achieving its 6-day peak, moving in a range of 44.61-44.55.
On the downside, the Indian currency may target support below the 44.70 level in near-term. The greenback-rupee pair that finished Friday's deals at 44.5150 is presently quoted at 44.57.
The Indian market erased early gains to end modestly lower today, as domestic concerns over inflation and interest rates and the debt issues in the U.S. and European Union kept investors on the sidelines.
The benchmark 30-share Sensex closed down 55 points or 0.30 percent at 18,507 and the broader 50-share Nifty index fell by 14 points or 0.25 percent to 5,567.
