Forex

Rupee slips 13 paise to 71.93 against US dollar on higher crude oil prices

PTI Mumbai | Updated on January 06, 2020 Published on January 06, 2020

File photo   -  Bloomberg

Forex traders said escalation in geopolitical tensions could continue to keep the domestic unit down

The rupee plunged 13 paise to settle at 71.93 against the United States (US) currency on Monday, mainly weighed down by the spike in global crude oil prices as escalating US-Iran tensions fanned fresh fears of conflict in West Asia.

Forex traders said escalation in geopolitical tensions could continue to keep the domestic unit down.

At the interbank foreign exchange, the rupee opened weak at 72.03 against the US dollar. During the day, the domestic unit touched a low of 72.11.

The local unit recovered some lost ground and finally closed at 71.93 against the US dollar, lower by 13 paise over its previous closing.

The rupee on Friday had closed at 71.80 against the US dollar.

This is the third straight session of loss for the domestic currency, during which it has lost 71 paise.

Published on January 06, 2020
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