Forex

Rupee snaps 3-day rise, slips 25 paise against dollar

PTI Mumbai | Updated on April 12, 2019 Published on April 12, 2019

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The rupee on Thursday climbed 19 paise to close at 68.92 against the US dollar

Halting its three-day winning run, the rupee on Friday closed 25 paise lower at 69.17 to the US dollar as forex traders weighed rising crude oil prices.

Besides, as forex dealers said, there was concern in the market after reports surfaced that the Supreme Court Friday restrained Arcelor Mittal from acquiring Essar Steel, which in turn might impact dollar inflows considering the Essar Steel acquisition was worth nearly USD 7 billion.

At the Interbank Foreign Exchange (forex), the domestic currency opened at 69.04 a dollar and fell further to touch the day’s low of 69.38. It finally settled at 69.17 per dollar, down 25 paise over its previous close.

The Indian rupee on Thursday had climbed 19 paise to close at 68.92 against the US dollar.

During the week, the rupee gained 6 paise.

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Published on April 12, 2019
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