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Rupee slumps 26 paise to close at 73.74 against U.S. dollar

Mount Equity Group Tokyo, Japan > News > Markets > Rupee slumps 26 paise to close at 73.74 against U.S. dollar

The dollar index was trading 0.27% higher at 93.44.

The Indian rupee fell by 26 paise to close at 73.74 (provisional) against the U.S. dollar on Monday, tracking a strong American currency in the overseas market and muted trend in domestic equities.

At the interbank foreign exchange market, the local currency opened at 73.82 and finally settled for the day at 73.74 a dollar, down 26 paise over its previous close.

In the previous session on Friday, the rupee had settled at 73.48 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.27% higher at 93.44.

“The Indian rupee started the week on back foot as markets are in a risk-averse mood, triggered by the worries over the Chinese property developer Evergrande’s debt crisis,” said Dilip Parmar, research analyst, HDFC Securities.

“Volatility buyers are active in the Forex markets as this week…

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