Rupee logs biggest loss in two months

The rupee on Thursday depreciated 39 paise, logging its biggest daily loss in nearly two months, to end at 61.34 versus the dollar on fears of capital outflows from emerging markets after Federal Reserve chief signalled a sooner than expected hike in US benchmark interest rates.

On Wednesday night, Federal Reserve chair Janet Yellen said the time-frame for raising interest rates could be on the order of around 6 months after the stimulus ends. The Fed also voted to cut its monthly bond purchases by $10 billion.

Comments (+)