The rupee on Monday closed down by 23 paise at 73.25 (provisional) against the US dollar as rising crude oil costs and strengthening of the American foreign money within the abroad market weighed on investor sentiment.
At the interbank foreign exchange market, the native unit opened at 73.13 against the dollar and witnessed an intra-day excessive of 73.29 and a low of 72.93.
It lastly ended at 73.25 against the American foreign money, registering a fall of 23 paise over its earlier closing.
On Friday, the rupee had settled at 73.02 against the American foreign money.
“Indian Rupee depreciated amid robust dollar and surge in crude oil costs. Crude oil costs elevated after Saudi Arabia mentioned its oil facility was attacked by drone. Further, OPEC and its allies had agreed to maintain most of their manufacturing cuts in place,” mentioned Saif Mukadam, Research Analyst, Sharekhan by BNP Paribas.
However, sharp fall could also be prevented on constructive home markets, Mukadam mentioned including that the rupee could commerce within the vary of 72.70 to 73.50 within the subsequent couple of periods.
