Markets

Rupee settles 4 paise down at 71.35, slides for 6th day

Representational image

Representational image   | Photo Credit: V. Raju

On a weekly basis rupee has depreciated by 19 paise.

The rupee depreciated by 4 paise to close at a fresh three-week low of 71.35 against the US dollar on Friday, continuing its losing streak for the sixth day in a row amid steady rise in crude oil prices.

Forex traders said the USD/INR spot has been trading in a tight range amid lack of cues.

At the interbank foreign exchange market, the domestic currency opened at 71.26 and later fluctuated between a high of 71.19 and a low of 71.40.

The domestic unit finally settled at 71.35, showing a fall of 4 paise over its previous close of 71.31 on Thursday.

On a weekly basis rupee has depreciated by 19 paise.

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Printable version | Feb 24, 2020 1:28:55 PM | https://www.thehindu.com/business/markets/rupee-settles-4-paise-down-at-7135-slides-for-6th-day/article30412964.ece

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