The Indian rupee weakened to an all-time low on Wednesday as early results of the U.S. presidential election boosted the dollar and pegged back Asian currencies.
The rupee fell to 84.1725 against the U.S. dollar, down 0.07% from its previous close at 84.1075. The currency was last quoted at 84.17.
The dollar index climbed nearly 1.5% to a four-month high of 104.9, while Asian currencies declined by as much as 1.2% as initial trends signaled an edge for Republican candidate Donald Trump, prompting interest in so-called 'Trump trades.'
U.S. Treasury yields were higher as well, with the 10-year yield up 15 basis points at 4.44%.
Projections by media outlets showed that Trump is expected to have secured 198 electoral collage votes, leading Kamala Harris who stood at 112 votes, with results for battleground states yet to be called.
The rupee fell to 84.1725 against the U.S. dollar, down 0.07% from its previous close at 84.1075. The currency was last quoted at 84.17.
The dollar index climbed nearly 1.5% to a four-month high of 104.9, while Asian currencies declined by as much as 1.2% as initial trends signaled an edge for Republican candidate Donald Trump, prompting interest in so-called 'Trump trades.'
U.S. Treasury yields were higher as well, with the 10-year yield up 15 basis points at 4.44%.
Projections by media outlets showed that Trump is expected to have secured 198 electoral collage votes, leading Kamala Harris who stood at 112 votes, with results for battleground states yet to be called.
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