The rupee opened at 68.20 a dollar and touched a low of 68.23, a level last seen on 11 January. At 9.15am, the home currency was trading at 68.22 a dollar, down 0.2% from Wednesday’s close of 68.08. So far this year, it has fallen 0.2%.
Asian currencies were trading lower after comments by US Federal Reserve chair Janet Yellen switched the market’s focus back to the prospect for higher US interest rates.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 101.26, up 0.32% from its previous close of 100.93.
Traders have been largely focusing on US President-elect Donald Trump’s plans for fiscal stimulus, deregulation of certain sectors and tax reform.
Asian currencies were trading lower after comments by US Federal Reserve chair Janet Yellen switched the market’s focus back to the prospect for higher US interest rates.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 101.26, up 0.32% from its previous close of 100.93.
Traders have been largely focusing on US President-elect Donald Trump’s plans for fiscal stimulus, deregulation of certain sectors and tax reform.
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