Traders count on greater demand for {dollars} because of the monetary yr finish.
The Indian rupee weakened to its lowest stage in a month on Wednesday morning, monitoring continued good points within the greenback index on the again of the rise in US bond yields.
The partially convertible rupee was at 73.52/53 per greenback at 10:00 am versus its earlier shut of 73.38 after touching 73.59 in opening offers, its weakest since March 1.
Traders count on greater demand for {dollars} because of the monetary yr finish in India as nicely and that’s anticipated to maintain strain on the native unit.
The broader NSE share index was down 0.6 per cent whereas the BSE index was 0.8 per cent decrease. Any portfolio outflows by international traders might additionally strain the rupee, merchants mentioned.
