Currency

Rupee opens weak at 72.60 against the US dollar

Updated : October 01, 2018 11:00 AM IST

At 10:56 AM, the rupee depreciated further to 72.78 against the US dollar.

The Indian currency remains weak on account of the rising fuel prices.

The oil prices opened firmly on Monday, with Brent hovering close its highest in nearly four years ahead of US sanctions against Iran that kick in next month.

Rupee opens weak at 72.60 against the US dollar

The rupee opened weak on Monday, at 72.60 against the US dollar, compared to Friday's close of 72.48.

At 10:56 AM, the rupee depreciated further to 72.78 against the US dollar.

The Indian currency remains weak on account of the rising fuel prices.

The oil prices opened firmly on Monday, with Brent hovering close its highest in nearly four years ahead of US sanctions against Iran that kick in next month.

Brent crude oil futures were trading at $83.04 per barrel at 0057 GMT, up 31 cents, or 0.4 percent, from their last close and near the $83.07 level reached during the last session - the highest since November 2014.

The rupee is the worst performing emerging market currency having lost almost 14 percent since January this year. Between April and September the rupee has plummeted more than 7 to the dollar and has breached the psychological 73 mark last week.

(With inputs from Reuters)

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