Rupee Hits Two-Week Low on Dollar Demand
The Indian rupee declined to a two-week low pressured by persistent dollar demand from various sectors and overseas debt repayments. Mild interventions by the Reserve Bank of India helped limit losses. The currency traded at 95.3675 against the dollar.
The India rupee fell 0.15% to a two-week low of 95.3675 per dollar on Thursday morning, pressured by heavy dollar demand. Mild central bank interventions cushioned the currency, traders said, limiting losses after earlier gains faded.
