The Indian rupee declined today as last week’s US non-farm payrolls disappointed Forex market participants, sapping demand for riskier currencies of emerging markets.
US employers added 120,000 jobs last month, compared to market expectations of 207,000. The disappointing data reduced risk appetite of investors. The rumors about North Korean rocket launch weren’t helping Asian currencies either. The Bloomberg-JPMorgan Asia Dollar Index, tracking Asia’s 10 most-traded currencies excluding the yen, declined 0.1 percent. The MSCI Asia-Pacific Index of shares slid for the fourth day.
USD/INR rose from 51.1450 to 51.1700 as of 13:43 as of 13:38 GMT today.
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