Rupee falls 48 paise to close at 96.16 against US dollar
The rupee depreciated 48 paise to close at 96.16 against the US dollar on Tuesday, amid a surge in crude oil prices and renewed geopolitical concerns.
The rupee depreciated 48 paise to close at 96.16 against the US dollar on Tuesday, amid a surge in crude oil prices and renewed geopolitical concerns.
Forex traders said the rupee came under pressure due to a combination of factors -- crude oil prices climbed on renewed geopolitical tensions, while demand for the US dollar increased as investors moved toward safe-haven assets.
At the interbank foreign exchange market, the rupee opened at 95.95 and touched the intraday low of 96.33 before settling at 96.16, down 48 paise from its previous closing level.
