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Rupee closes 11 paise lower against US dollar

Mount Equity Group Tokyo Japan > News > Markets > Rupee closes 11 paise lower against US dollar

MUMBAI:The Indian rupee depreciated 11 paise, to close at 79.87 against the US dollar on Monday.
At the Interbank foreign exchange market, rupee ended at 79.87, as against its 79.76 close on the previous trading session against the US dollar.

“Rupee trade in range of 79.70-79.90 and closed higher by 0.09 points against the dollar on back of crude weakness continuing below $97 along with Iran oil deal hopes which can raise supply of crude and bring prices even further down helping rupee curb the fall, ” said Jateen Trivedi, VP Research Analyst at LKP Securities.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.20 per cent to 108.38.

Meanwhile, Brent crude futures, the global oil benchmark, declined 0.81 per cent to $95.94 per barrel.

The domestic equities, Sensex ended 872.28 points, or 1.48 per cent, down at 58, 773.87, and Nifty ended down 267.75 points or 1.51 per cent…

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