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Rupee halts nine-day winning streak on broad dollar strength
![IndiaTimes]()
Wednesday, 17 January 2024
The Indian rupee ended its nine-day winning streak on Tuesday, as the US dollar gained strength and regional markets experienced a risk-off sentiment. The rupee closed at 82.07 against the US dollar, a decrease from its previous close at 82.88. This 0.2% fall marks its largest single-day decline since September 25. Experts believe that the rupee may face resistance in surpassing 82.85, and is likely to trade within the range of 82.85 to 83.20 in the short term. Anil Bhansali, head of treasury at Finrex Treasury Advisors, expressed this view. The rupee's decline is in line with other Asian currencies.
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Wednesday, 17 January 2024
