Indian Rupee Trades At 8-day High Against U.S. Dollar
August 20 2018 - 11:35PM
RTTF2
The Indian rupee traded higher against the U.S. dollar in the
morning session on Tuesday, as the latter weakened across the board
after Trump accused China and Europe of manipulating their
currencies and said he was "not thrilled" with the Fed's rate
hikes.
In an interview with Reuters, Trump expressed discontent with
the Fed's rate hikes and suggested that the central bank should do
more to help stimulate the US economy.
The rupee advanced to an 8-day high of 69.54 against the
greenback, and held steady thereafter. If the rupee rises further,
68.00 is likely seen as its next resistance level. At yesterday's
close, the pair was worth 69.76.
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