Comments
The rupee depreciated 62 paise to 73.07 against the US dollar in the mid-session at the interbank forex market on Monday on foreign fund outflows.
The rupee opened lower at 72.76 against the dollar, and dropped further to a low of 73.12.
At 3.30 pm, the domestic unit was quoted at 73.01, down by 56 paise. It ended at 72.45 versus the dollar on Friday
Traders said increased demand for the US currency from importers and losses in the domestic equity market weighed on the rupee.
Besides, the dollar trading higher against some currencies overseas too put pressure on the rupee, they added.
The rupee on Friday clocked its biggest single-day gain in over five years, surging by 100 paise to close at 72.45 against the US dollar on easing crude oil prices.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.