The Indian rupee declined against the U.S. dollar in evening deals on Thursday, as traders focus on the Federal Reserve Chair Janet Yellen’s speech later in the day for additional clarity on when the U.S. central bank plans to raise interest rates.
Market participants also remain cautious ahead of the RBI monetary policy review next week, with most economists expecting a rate cut rate of 25 basis points.
The rupee depreciated to a weekly low of 66.268 against the greenback, compared to Wednesday’s closing value of 66.10. The rupee is likely to find support around the 67.00 zone.
The material has been provided by InstaForex Company – www.instaforex.com