Indian Rupee Slides To 2-year Low Against U.S. Dollar

The Indian rupee drifted lower against the U.S. dollar in evening deals on Friday, as disappointing China factory data added to concerns over nation’s economic outlook, hurting emerging market assets.

Regional stocks also fell, with the benchmark index BSE Sensex down by 241.75 points or 0.88 percent at 27,366, while the broader Nifty index closed down at 8,300, a decline of 72.80 points or 0.87 percent.

The Indian rupee slipped to a 2-year low of 65.93 against the greenback, down by 0.6 percent from Thursday’s closing value of 65.516. The rupee is likely to find support around the 67.00 zone.

The material has been provided by InstaForex Company –