Comments
The rupee dipped 3 paise to close at 71.04 against the US dollar on Wednesday amid rising demand for the greenback vis-a-vis other currencies overseas, even as crude oil prices eased.
Forex traders said a weak trend in domestic equities, political unrest in the US and unabated foreign fund outflows also weighed on the local unit.
At the interbank foreign exchange market, the rupee opened at 71.10, then lost ground and fell to an intra-day low of 71.14 against the American currency. However, it recouped some losses to finish at 71.04 against the US dollar, down 3 paise over its previous close.
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.