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Rupee Weakens Against A Subdued Dollar On Rising Inflation Expectations

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Rupee Weakens Against A Subdued Dollar On Rising Inflation Expectations

Rupee Today: Indian currency falls to 79.67 against the greenback

The rupee opened lower against a restrained dollar early on Monday as August retail inflation data due later in the day was expected to show a surge back up to near 7 per cent.

Bloomberg showed the rupee was last at 79.6613 per dollar, compared to its previous close of 79.5838, after opening lower at 79.6387. 

PTI reported that the rupee fell 10 paise to 79.67 against the US dollar.

That even as the dollar was pressured by a more hawkish European Central Bank and louder voicing of intervention by Japanese officials.

A Reuters survey of economists showed retail inflation likely snapped a three-month downward trend in August as food prices surged, which may add pressure on the Reserve Bank of India to hike interest rates more aggressively in coming months.

Although rising inflation is a worldwide problem, it is particularly felt in countries like India where millions of people are living in extreme poverty.



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