Rupee sinks 38 paise to 87.33 against U.S. dollar; logs worst single-day fall in a month
The Hindu
Rupee falls 38 paise against US dollar due to volatile crude oil prices and foreign fund outflows.
The rupee depreciated by 38 paise, its steepest fall in over a month, to close at 87.33 (provisional) against the U.S. dollar on Monday (March 10, 2025) due to volatile crude oil prices amid tariff uncertainties worldwide and unabated outflow of foreign funds.
A weaker American currency failed to support the local unit as a sell-off in the domestic equity market hit the sentiment adversely, forex traders said.
At the interbank foreign exchange, the rupee opened weak at 87.24 and touched the day's low of 87.36 amid intense volatility. The unit touched an intraday high of 87.16 before ending the session at 87.33 (provisional) against the greenback, registering a loss of 38 paise from its previous closing level.
Earlier, the domestic currency had recorded a steep single-day loss of 39 paise against the dollar on February 5.
On Friday (March 7, 2025), the rupee appreciated 17 paise to close at 86.95 against the U.S. dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.15% at 103.65.
Brent crude, the global oil benchmark, rose 0.28% to $70.56 per barrel in futures trade.
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