Currency

Rupee opens marginally lower at 71.36 per US dollar

Updated : December 30, 2019 09:09 AM IST

Indian rupee opened marginally lower on Monday against the US dollar at Rs 71.36 per dollar.

On Friday, the rupee depreciated by 4 paise to close at a fresh three-week low of 71.35 against the US dollar, continuing its losing streak for the sixth day in a row amid crude oil prices hitting three-month high levels.

Oil prices hovered around three-month highs on Monday following a higher-than-expected crude inventory drawdown and optimism over an expected U.S-China trade deal, while traders kept a close eye on Middle East unrest.

Brent crude was up 0.12 cents, or 0.18 percent, at $68.28 a barrel while West Texas Intermediate was up 0.04 cents, or 0.06 percent, at $61.76 a barrel.

A broad gauge of Asian share markets fell on Monday as investors consolidated gains after scaling 18-month highs last week, while oil was steady after the U.S. carried out air strikes on an Iranian-backed Shi'ite Muslim militia group in Iraq and Syria.

Rupee opens marginally lower at 71.36 per US dollar

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