Forex

Rupee falls by 19 paise to below 73 on high crude prices, strong dollar

PTI Mumbai | Updated on March 05, 2021

The rupee slumped by 19 paise to close below the 73 mark against the US currency on Friday due to a stronger dollar and risk aversion in the global markets.

The greenback rose to a three-month high against a basket of world currencies after US Fed chairman dismissed concerns over rising US bond yields. Crude oil prices also advanced which hit the rupee sentiment.

At the interbank forex market, the local unit opened at 72.98 against the greenback and traded in the range of 72.73 - 73.09 during the day.

The rupee finally ended at 73.02 against the American currency, registering a fall of 19 paise over its previous closing. On Thursday, the rupee had settled at 72.83 against the American currency.

Published on March 05, 2021

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