Market News
Rupee drifts lower, volatility hits multi-month lows - REUTERS
MUMBAI, Sept 10 (Reuters) - The Indian rupee inched lower on Wednesday with focus remaining on U.S. tariffs, while near-term implied volatility hit multi-month lows, signaling that traders see limited risk of a large decline in the Asian currency.
The rupee was trading at 88.1250 per U.S. dollar at 12:02 p.m. IST, down from 88.1025 on Tuesday and just 0.2% shy of its record low of 88.36 hit last Friday.
The currency in late August weakened past 88 per dollar for the first time, sparking expectations of a sharp fall. That has not materialised so far. An increase in implied volatility after the currency drop has also faded.
