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Rupee Dives To 6-Week Low Against US Dollar

The local currency opened at 74.16 against the dollar, rose to an intra-day high of 74.16 and an intra-day low of 74.41 against the dollar before finally settling at 74.31 against the dollar.

Rupee Dives To 6-Week Low Against US Dollar
Rupee Dives To 6-Week Low Against US Dollar
outlookindia.com
2021-10-04T20:35:24+05:30

Rupee fell 19 paise to close at a six-week low of 74.31 against the US dollar as rising crude oil prices and the dollar gaining strength against key rivals weighed on investor sentiment on Monday. 

The local currency opened at 74.16 against the dollar, rose to an intra-day high of 74.16 and an intra-day low of 74.41 against the dollar before finally settling at 74.31 against the dollar. 

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.10 per cent lower at 93.93.

Evergrande missed its offshore dollar coupon payments and has triggered some weakness in the offshore Chinese yuan.

Global oil benchmark, the Brent crude futures rose 0.15 per cent to $74.90/barrel. 

BSE Sensex closed 0.91 per cent or 533.74 points higher at 59,299.32 points while the broader NSE Nifty rose 159.20 points or 0.91 per cent to close at 17,691.25 points.

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