Rupee declines 9 paise to 82.05 against dollar amid geopolitical worries
The Hindu
Rupee retreated from early highs amid volatile stock markets and touched a low of 82.05 in afternoon trade at the interbank foreign exchange market
The rupee declined by 9 paise to close at 82.04 (provisional) against the U.S. dollar on June 26 amid geopolitical concerns and firming crude oil prices.
Volatility in equity markets and FII outflows also weighed on the market sentiment, analysts said.
After opening lower, the rupee staged a recovery to hit the day’s high of 81.94 in morning trade amid early gains in equities and a weaker greenback in the overseas markets.
However, the local currency retreated from early highs amid volatile stock markets and touched a low of 82.05 in afternoon trade at the interbank foreign exchange market.
The rupee closed at the day’s low level of 82.05, showing a loss of 9 paise over the previous close of 81.96 against the US dollar.
Analysts said that geopolitical concerns after a short-lived armed rebellion in Russia eroded the appeal of riskier assets.
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