Rupee falls 11 paise on firm dollar, costlier crude
Mumbai: The rupee declined by 11 paise to end at ₹95.28 per dollar mainly due to a firm US dollar and an uptick in global crude oil prices.
The rupee opened at 95.18 and traded in a narrow range of 95.18-95.31 during the day before ending at ₹95.28, down from its previous close of 95.17 on Friday. “Trade was quiet but dollar demand was there due to the higher global crude oil prices. Uncertainty over West Asia crisis also continues to weigh on trading,” said a dealer.
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Crude prices on the global benchmark were about 1% higher at around $84.35 per barrel while there is still little clarity on how long the US-Iran conflict will continue. Dollar sales from the RBI also supported the rupee at higher levels preventing the Rupee from weakening.
