Currency

Rupee opens 8 paise lower against dollar

Updated : January 21, 2020 09:18 AM IST

The rupee started at 71.18 per dollar against Monday's close of Rs 71.10.

Oil prices eased as investors appeared to shrug off earlier supply concerns.

Brent crude was last seen 30 cents, or 0.5 percent down at $64.90 per barrel.

The Indian rupee started Tuesday's session on a lower note.

The domestic currency opened at its lowest in seven sessions. It started at 71.18 per dollar against Monday's close of Rs 71.10.

Asian shares, meanwhile, took a sudden lurch lower as mounting concerns about a new strain of pneumonia in China sent a ripple of risk aversion through markets.

Safe-haven bonds and the yen edged higher as investors were reminded of the economic damage done by the SARS virus in 2003, particularly given the threat of contagion as hundreds of millions travel for the Lunar New Year holidays.

Oil prices eased as investors appeared to shrug off earlier supply concerns following a force majeure declared by Libya on two major oilfields amid a military blockade.

Brent crude was last seen 30 cents, or 0.5 percent down at $64.90 per barrel.

(With inputs from Reuters)

Rupee opens 8 paise lower against dollar

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