Forex

Rupee settles 19 paise lower at 75.73

PTI | Updated on May 11, 2020 Published on May 11, 2020

Ind-Ra remains cautious over the tightening market conditions, which could have an impact on funding sources

The rupee on Monday declined by 19 paise to close at a one-week low of 75.73 against the US dollar due to fiscal deficit concerns as the government raised its market borrowing programme for 2020-21 in view of the Covid-19 pandemic.

Forex traders said while positive domestic equities supported the local unit, market participants were concerned about the impact of increased borrowing on the fiscal deficit.

The Financial Benchmark India Private Ltd set the reference rate for the rupee/dollar at 75.4411 and for rupee/euro at 81.7983.

The reference rate for rupee/British pound was fixed at 93.4967 and for rupee/100 Japanese yen at 70.93.

 

Published on May 11, 2020

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