MUMBAI -The Indian rupee declined against the U.S. dollar in the non-deliverable forward (NDF) market on Wednesday, after Indian armed forces hit mult
MUMBAI -The Indian rupee declined against the U.S. dollar in the non-deliverable forward (NDF) market on Wednesday, after Indian armed forces hit multiple sites in Pakistan and Pakistan-occupied Jammu and Kashmir.
The 1-month NDF indicated that the rupee is likely to trade at 84.64-84.68 when onshore spot market opens, down from 84.4325 on Tuesday.
India attacked Pakistan and Pakistani Kashmir on Wednesday with at least eight deaths reported, while Pakistan called the assault a “blatant act of war”.
India said it struck nine Pakistani sites on Wednesday that were “terrorist infrastructure”. The strikes by India came on the back of a deadly attack on its side of Kashmir last month.
m.economictimes.com