Indian Rupee Drops To Near 2-week Low Versus U.S. Dollar

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The Indian rupee declined against the U.S. dollar in the evening session on Tuesday, as the latter strengthened across the board after strong economic data and ahead of the policy meeting from the European Central Bank.

Investors focus on policy signals from the ECB in the wake of the rise of the euro and its implications on the economy.

The Indian rupee weakened to near a 2-week low of 73.91 against the greenback from yesterday’s closing value of 73.41. If the rupee falls further, 76.00 is likely seen as its next support level.

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