Indian Rupee Falls To 11-day Low Against U.S. Dollar
The Indian rupee weakened against the U.S. dollar in the morning deals on Tuesday. Against the greenback, the rupee fell to an 11-day low of 58.9705, from yesterday's closing quote of 58.7350. If the rupee extends its slide, it is likely to find support around the 59.57 zone. The rupee is seeing a pullback after its recent rally, triggered by the election of Narendra Modi as India's 15th Prime Minister. Modi was sworn in as the country's executive head yesterday and the swearing in ceremony was attended by heads of neighboring countries, industrialist and celebrities among others.
News are provided by InstaForex.