The rupee opened weak at 87.24 at the interbank foreign exchange market and fell to 87.25 against the dollar in early deals, showing a fall of 30 paise from its previous close. The rupee had closed 17 paise higher at 86.95 against the US dollar on Friday.
रुपया और लुढ़का, अमेरिकी डॉलर के मुकाबले 30 पैसे गिरकर 87.25 पर पहुंचा
The Indian rupee suffered a major setback in early trade on Monday. As soon as trading began, the rupee fell 30 paise to 87.25 against the US dollar. The US currency’s recovery from a six-month low and trade-related uncertainties affected investor sentiment.
Forex traders said the sluggishness in the domestic stock market and the continued withdrawal of foreign funds put pressure on the local currency. They said the rupee has certainly received some support due to softening of crude oil prices, but the confusion among investors due to uncertainties has affected it.
The rupee opened weak at 87.24 in the interbank foreign exchange market and fell to 87.25 against the dollar in early deals, showing a decline of 30 paise from the previous close. The rupee closed 17 paise higher at 86.95 against the US dollar on Friday.
Meanwhile, the dollar index, which shows the position of the US dollar against six major currencies, was up 0.03 percent at 103.84. Brent crude futures, the global oil benchmark, fell 0.58 per cent to USD 69.95 per barrel.
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