Indian rupee hits one-month low on equity outflows

The Indian rupee fell to a one-month low on Thursday due to outflows from local equities and breaking a key technical support level, triggering stop-losses on speculative long bets.

The South Asian currency ended the day at 86.0025 against the US dollar, marking a 0.4 per cent decrease. It dropped below the important support level of 85.80 and reached a low of 86.1025, the lowest point since April 11.

Attribution: Reuters
Subediting: M. S. Salama