Indian rupee fell for second day in a row against the US dollar despite firm domestic equity markets. Most other Asian currencies also slipped as China-U.S.
tensions over Hong Kong escalated. The rupee today fell to 75.90 at day's low and recently traded at 75.78. In comparison, the rupee had settled at 75.72 per USD in the previous session.
Forex traders said rising US-China tension weighed on the local currency even as positive domestic equities and improving risk appetite supported the local unit.
Tracking strong global equities, the Sensex was up over 500 points in noon trade. US Secretary of State Mike Pompeo said on Wednesday Hong Kong no longer qualified for its special status under US law.