Indian rupee drops tracking Asian peers.

The Indian rupee weakened on Monday due to a slump in most Asian currencies following stronger-than-expected US economic data. The US non-farm payrolls rose by 353,000 in January, leading investors to pare bets on early rate cuts by the Federal Reserve. The 10-year U.S. Treasury yield increased to 4.06%, and the dollar index reached 104.07. The dollar-rupee pair and most Asian currencies fell, with the Korean won leading losses in Asia.

February 05, 2024
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