Currency

Rupee opens lower at 71.03 per US Dollar

Updated : December 18, 2019 09:05 AM IST

Indian rupee opened lower against the US dollar on worsening risk appetite amid concerns over hard Brexit and crude oil prices nearing $66 per barrel.

Rupee opened at Rs 71.03 per dollar against the previous close of Rs 70.98

The rupee settled 2 paise down at 70.98 in the previous session. During the day, INR saw a high of 70.87 and a low of 71.02.

Oil prices retreated after rising more than 1 percent in the previous session as US industry data showed a surprise build in crude stocks, but hopes for firmer demand next year checked a deeper fall in prices.

Brent crude oil traded 0.48 percent lower at $65.78 per barrel while WTI crude fell 0.64 percent to $60.55 per barrel on Wednesday.

Asian stocks took a breather at 18-month peaks on Wednesday having climbed for five straight sessions, while the British pound was licking its wounds as revived Brexit fears came back to bite it.

Meanwhile, GST Council will meet today to discuss on drawing a broad road-map for the future on rates, slabs, items, etc with a clear focus on "revenue augmentation". Government has set Rs 1.1 lakh crore monthly GST target for the remaining four months of the current fiscal and asked taxmen to step up efforts to achieve the goal.

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Rupee opens lower at 71.03 per US Dollar

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