Indian rupee drops to 13-month low 

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Indian rupee drops to 13-month low 

Rupee dropped to its lowest after the minutes of the monetary policy panel meeting.

By Reuters

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Published: Fri 20 Apr 2018, 12:41 PM

Last updated: Fri 20 Apr 2018, 6:35 PM

Indian bond yields spiked while the rupee dropped to its lowest in more than a year on Friday after the minutes of the monetary policy panel meeting suggested that they were likely to take a more hawkish tone starting as early as June. 
The Reserve Bank of India's MPC members flagged several concerns, including an increase in minimum support prices for farmers and high and volatile crude oil prices, the minutes released post market hours on Thursday showed. 
By 0344 GMT, the Indian rupee was at 66.02 per dollar versus its previous close of 65.7950. The rupee touched 66.08 in early deals, its weakest level since March 14, 2017. 


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