The Indian rupee has slumped further today, adding to its recent spate of losses. INR has broken past 86 to the US dollar mark on Monday, after a robust U.S. jobs report reaffirmed expectations that the Federal Reserve will not cut rates by much this year. U.S. employers added 256,000 jobs last month, pushing up the US dollar index towards 110 mark ' its highest levels in more than two years. This took a toll on risk sentiments as benchmark NIFTY50 index slipped to six month low and kept the Indian Rupee under sustained stress. INR shed 64 basis points to 86.68, marking one of the biggest daily crashes for the local currency against the US dollar.
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