Homemarket Newscurrency News

    Rupee falls 10 paise to 71.20 a dollar on higher crude prices

    Rupee falls 10 paise to 71.20 a dollar on higher crude prices

    Rupee falls 10 paise to 71.20 a dollar on higher crude prices
    Profile image

    By Aastha Agnihotri   IST (Published)

    Mini

    Indian rupee opened lower against the greenback on Tuesday as oil prices crept higher after the US government slapped sanctions on Venezuela.

    Indian rupee opened lower against the greenback on Tuesday as oil prices crept higher after the US government slapped sanctions on Venezuela.
    At 09:10 AM, the rupee was trading at 71.20 a dollar, down 10 paise from its Monday’s close of 71.10. The home currency opened at 71.13 and touched a high and a low of 71.13 and 71.21 a dollar, respectively.
    The Indian rupee on Monday managed to end 7 paise higher at 71.10 against the US dollar on increased selling of the greenback by exporters amid easing crude oil prices and uptrend in other emerging market currencies.
    The local currency lost some ground today despite a softer US dollar. The Federal Open Market Committee meets between Jan 29-30, and Chairman Jerome Powell is widely expected to acknowledge growing risks to the US economy as global momentum weakens.
    The dollar index, a gauge of its value versus six major peers, was flat at 95.72 and holding close to a two-week low.
    Oil prices edged higher on Tuesday after the US government slapped sanctions on Venezuela's state-owned oil firm PdVSA in a move aimed at severely curbing the OPEC member's crude exports to the United States, reported Reuters.
    International Brent crude oil futures were at $60.08 per barrel, up 15 cents, or 0.3 percent.
    Meanwhile, foreign funds purchased shares worth Rs 223.44 crore from the capital markets on a net basis, and domestic institutional investors also bought shares worth Rs 92.32 crore Monday, provisional data showed.
    In debt markets, the yields on the 10-year government bonds up 0.03 percent to 7.33 percent from its previous close of 7.33 percent. Bond yields and prices move in opposite directions.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    arrow down

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng