17 hrs ago
Rupee Falls Seven Paise Against US Dollar Amid Headwinds
The rupee is the money being measured against the US dollar.
On Monday, it became slightly weaker compared with Friday.
It finished at 94.50 rupees to one US dollar.
During the day, it briefly reached 94.38 before falling to 94.50.
Some foreign money entering through FCNR accounts helped support the rupee early on.
However, higher crude oil prices created pressure.
Falling domestic share prices also made investors less confident.
These factors together led to the rupee’s 7-paise decline.
The rupee closed at 94.50 against the US dollar, down 7 paise from its previous close.
The currency opened at 94.40 and moved between an intraday high of 94.38 and low of 94.50.
Strong FCNR dollar inflows initially supported the rupee.
Rising crude oil prices and negative domestic equities weighed on investor sentiment.
The rupee had closed at 94.43 on Friday, gaining 8 paise.
- Who
- The rupee and the US dollar.
- What
- The rupee fell 7 paise to close at 94.50 against the US dollar.
- Where
- At the interbank foreign exchange market.
- When
- Monday; the previous close was recorded on Friday.
- Why
- Rising crude oil prices, global headwinds and negative domestic equities outweighed support from strong FCNR dollar inflows.
Key facts
- Closing rate
- 94.50 per US dollar, provisional
- Daily move
- Down 7 paise
- Opening rate
- 94.40 per US dollar
- Intraday range
- 94.38 high to 94.50 low
- Previous close
- 94.43 on Friday
- Support factor
- Strong FCNR dollar inflows
- Pressure factors
- Surging crude oil prices, global headwinds and negative domestic equities
Sources
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