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FX.co ★ Indian Rupee Weakens To 4-day Low Against U.S. Dollar

Indian Rupee Weakens To 4-day Low Against U.S. Dollar

The Indian rupee slipped against the U.S. dollar in the morning session on Monday, as soaring Covid-19 cases and reimposition of restrictions sparked worries about the economic recovery.

As India's daily tally of Covid-19 infections hit records, experts say that localized lockdowns will hurt the economic recovery from the pandemic.

The benchmark S&P BSE Sensex slipped 1,199 points, or 2.46 percent, to 47,632, while the broader NSE Nifty index was down 356 points, or 2.44 percent, at 14,261.

The Indian rupee fell to a 4-day low of 74.95 against the greenback from Friday's close of 74.48. Next key support for the rupee is seen around the 76.00 region.

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