Rupee Falls 31 Paise to Close at 90.99 Against US Dollar
The Indian rupee weakened by 31 paise to settle at 90.99 against the US dollar amid strong dollar demand, rising crude oil prices, and escalating US-Iran tensions.
Prasanth Subramani
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The Indian rupee depreciated by 31 paise to close at 90.99 against the US dollar.
Forex traders said the rupee’s weakness was driven by the strong US dollar, escalating tensions between the United States and Iran, and rising crude oil prices. These factors outweighed the positive momentum seen in the domestic equity markets.
In the interbank foreign exchange market, the rupee opened at 90.94 against the dollar and touched an intraday low of 91.04 before settling at 90.99, down 31 paise from its previous close.
The forex market remained closed yesterday (Thursday) on account of Chhatrapati Shivaji Maharaj Jayanti.
