Indian Rupee Declines To 8-day Low Vs U.S. Dollar On Rising Indo-Pak Tensions
February 26 2019 - 11:18PM
RTTF2
The Indian rupee was defensive against the U.S. dollar in
afternoon deals on Wednesday, as India-Pakistan tensions flared up,
with Indian Air defence forces shooting down Pakistani Air Force
F-16 fighter jet in Jammu and Kashmir's Poonch and Rajouri
sectors.
The Indian rupee dropped to an 8-day low of 71.51 against the
greenback from yesterday's closing value of 70.92. The next
possible support for the rupee is seen around the 73.00 area.
A day after the Indian Air Force dropped bombs on the
Jaish-e-Mohammed terror camps in Balakot region, Pakistan shot down
two Indian jets and arrested two Indian pilots.
Reflecting escalation of hostilities, India shot down a
Pakistani F-16 jet that violated the Indian air space in Lam Valley
along the Line of Control.
Nine airports, including those in Srinagar and Jammu, were
closed today.
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