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Rupee falls to over two-week low on corporate dollar bids, outflows - REUTERS
MUMBAI, July 14(Reuters) - The Indian rupee weakened past the 86 per U.S. dollar mark on Monday to its lowest level in more than two weeks, weighed by corporate dollar demand and equity-related outflows, traders said, amid uncertainty over U.S. trade policies.
The rupee closed at 85.9850 against the U.S. dollar, down 0.2% from its close at 85.80 on Friday. The currency hit a low of 86.0475 earlier in the day, its weakest level since June 25.
Dollar demand from a large Indian conglomerate and other companies pressured the rupee alongside likely outflows from Indian equities, traders said.
India's benchmark equity indexes, the BSE Sensex (.BSESN) and Nifty 50 (.NSEI) declined 0.3%, even as most regional peers ticked higher.
Stocks in Europe fell and the common currency weakened marginally against the dollar after U.S. President Donald Trump threatened a 30% levy on the region's imports over the weekend, deepening his ongoing trade war. U.S. equity futures were in the red as well, with the S&P 500 futures down 0.3%. "The moves have not been larger since investors see these threats as a Washington negotiating tactic to push the other side over the line into a deal," ING said in a note. Advertisement · Scroll to continue India is among the few large U.S. trade partners that have not yet received a tarif
