The rupee fell 17 paise to 95.43 against US dollar in early trade on Tuesday, as month-end dollar demand and elevated crude oil prices weighed on investor sentiments.
Forex traders said the broader pressure on the rupee is likely to continue as long as geopolitical tensions remain elevated. Moreover, RBI measures and liquidity support may help provide temporary relief and contain volatility in the near term, they said.
At the interbank foreign exchange market, the rupee opened at 95.43 against the US dollar, down 17 paise from its previous close.
On Monday, the rupee gained 34 paise to close at 95.26 against the US dollar with the RBI selling dollars and keeping the rupee well bid at all upper levels.
Meanwhile, Brent oil prices rose after they touched USD 93 per barrel with reports of fresh attacks against Iran offsetting hopes of a deal to reopen Strait of Hormuz.
US President Donald Trump on Monday said negotiations with Iran to end the war were progressing “nicely”, but offici​The rupee fell 17 paise to 95.43 against US dollar in early trade on Tuesday, as month-end dollar demand and elevated crude oil prices weighed on investor sentiments.
Forex traders said the broader pressure on the rupee is likely to continue as long as geopolitical tensions remain elevated. Moreover, RBI measures and liquidity support may help provide temporary relief and contain volatility in the near term, they said.
At the interbank foreign exchange market, the rupee opened at 95.43 against the US dollar, down 17 paise from its previous close.
On Monday, the rupee gained 34 paise to close at 95.26 against the US dollar with the RBI selling dollars and keeping the rupee well bid at all upper levels.
Meanwhile, Brent oil prices rose after they touched USD 93 per barrel with reports of fresh attacks against Iran offsetting hopes of a deal to reopen Strait of Hormuz.
US President Donald Trump on Monday said negotiations with Iran to end the war were progressing “nicely”, but offici ​Latest News [ SOBAN NEWS: International and National ]
