Business
Downslide Continues : Rupee Wilts 4 Paise Against The US Dollar , Closes At 90.21
Analysts said geopolitical tensions and weak equity markets also put pressure on the Indian currency. At the interbank foreign exchange, the rupee opened at 90.24 and touched the intra-day low of 90.30 against the greenback.
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The rupee declined 4 paise to close at 90.21 (provisional) against the US dollar weighed down by higher crude oil prices, a firm American currency and incessant outflow of foreign funds.
Analysts said geopolitical tensions and weak equity markets also put pressure on the Indian currency. At the interbank foreign exchange, the rupee opened at 90.24 and touched the intra-day low of 90.30 against the greenback.
The currency ended the session at 90.21 (provisional) against the dollar, down 4 paise from its previous close.
On Monday, the rupee ended 1 paisa higher at 90.17 against the US dollar. Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan, said the rupee declined amid ongoing geopolitical tensions and global risk aversion.
Weak domestic markets, FII outflows and a surge in crude oil prices also pressurised the rupee.