Indian rupee: Indian rupee hits 8-month low as virus cases skyrocket
Explore Now India's rupee on Monday plunged below 75 against the U.S. dollar for the first time in eight months amid a rapid increase in second-wave of coronavirus cases, while concerns over rising U.S. bond yields hurt broader emerging Asian markets. Weighing on the region's markets were expectations of a further rise in U.S. yields on a likely strong reading for U.S. consumer inflation for March, on the heels of a more-than-expected rise in U.S. producer prices. The rupee weakened as much as 0.5 per cent to 75.138, its lowest since August last year, before recovering to 74.870, as record ...