The
Indian rupee on Friday weakened to a fresh two-month low against US dollar
after fears of higher interest rates by the Federal Reserve led to a fresh
plunge in global markets.
The rupee
opened at 64.42 a dollar and touched a low of 64.43, a level last seen on 18
December. At 9.15am, the rupee was trading at 64.38, down 0.21% from its
Thursday’s close of 64.26.
Traders
were cautious after 10-year US bond yield climbed to almost 2.9%, a key
indicator of inflationary pressure and the likelihood of higher interest rates.
Analysts expect that it could hit 3% in the coming days.
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