Rupee Hits 2-month Low ahead of RBI Policy Review
January 27, 2014 3:25 PM EST
The rupee hits 62.90 in early trade, its lowest level since November 22, as Asian stocks trading with heavy losses. The pair last trading at 62.77/78 vs Friday's close of 62.66/67.
Indian rupee (Reuters)
The RBI to decide on rates on Tuesday. While the consensus still is towards no hike in policy rates, RBI chief Raghuram Rajan's comments will be closely watched for future rate trajectory after his recent hawkish comments.
Scotiabank says looking at the next key topside level of 63.90, the top of the November move higher in USD/INR, ahead of the pivotal 64.00 point.