Rupee falls 44 paise to close at 95.70 vs USD

(PTI)

MUMBAI, May 26: The rupee depreciated 44 paise to close at 95.70 against the US dollar on Tuesday, on renewed geo-political tensions in West Asia and a rise in crude oil prices.

Forex traders said a strong US dollar and weak domestic markets also pressured the rupee.

At the interbank foreign exchange market, the rupee opened at 95.43 against the US dollar, and touched an intra-day high of 95.33 and a low of 95.76 against the American currency.

At the end of Tuesday’s close, the rupee was quoted at 95.70, down 44 paise from its previous closing.

On Monday, the rupee gained 34 paise to close at 95.26 against the US dollar with the RBI selling dollars and keeping the rupee well bid at all upper levels.

Forex traders said the rupee remains vulnerable to rising crude oil prices and the strength of the American currency in the overseas market.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.05, down 0.19 per cent.