Mumbai: Due to the strong dollar and the continued rise in crude oil prices in the international market, in today’s foreign exchange trading, the value of the Indian rupee against the dollar fell by 11 paise and settled at Rs. 95.28.
Foreign exchange traders said there was pressure on the rupee as no progress had been made in the talks taking place in the West Asian region.
In the interbank foreign exchange market, the rupee opened trading at Rs. 95.18 and traded throughout the day within the range of Rs. 95.18 to Rs. 95.31. It ended trading at Rs. 95.28, down 11 paise from last Friday, when the Indian rupee had closed at Rs. 95.17.
Expectations about possible developments in the trade deficit, along with Brent crude oil prices rising above 84 US dollars, also contributed to the decline.
