Rupee falls sharply against US dollar for 2nd day: 5 things to know
Elevated oil prices continued to weigh on Indian rupee and domestic equity markets
Rupee may underperform its emerging market peers given its reliance on imported crude: Analyst
Indian rupee (INR) today extended fall against the US dollar (USD) as higher oil prices stoked concerns about inflation, economic growth and deficits. Opening at 71.83 a dollar, the rupee fell to a low of 71.97. So far during the day, the rupee traded in a range of 71.73 to 71.97 a US dollar. On Monday, the rupee had closed at 71.60 a dollar. The rupee settled at 71.78 a dollar. On Monday, the Indian rupee had plunged by 68 paise to 71.60 against the US dollar amid concerns over soaring crude prices following drone attacks on Saudi Arabia's oil facilities.
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