Indian rupee weakens against dollar, falls below Rs 79.65
Mumbai, July 13, 2022
The Indian rupee slightly weakened against the US dollar on Wednesday, falling below Rs 79.65.
The rupee movement against the dollar will be triggered by the inflation numbers of the US which are expected to be out later on Wednesday.
"Rupee traded with minor losses falling below 79.65 as the dollar index traded positive above $108, rupee range can be seen between 79.25-79.75," said Jateen Trivedi, Vice President, Research Analyst, LKP Securities.
Trivedi said the crude price falling below $100 can be a positive trigger for rupee, but inflation numbers in the evening from the US shall give a major trigger to rupee movement against the dollar.