Market News
Outflows, decline past key technical level pushes rupee to one-month low - REUTERS
MUMBAI, May 22 (Reuters) - (This May 22 story has been refiled to say 'BofA Global Research' instead of 'BofA Research' in paragraph 7)
The Indian rupee declined to a more-than-one-month low on Thursday, pressured by likely outflows from local equities and the breach of a key technical support level that triggered stop-losses on speculative long bets.
The South Asian currency closed at 86.0025 against the U.S. dollar, down 0.4% on the day. It fell past a key support level of 85.80 to hit a trough of 86.1025 during the session, its lowest since April 11.
