Markets

Rupee settles 6 paise down at 71.03 against US dollar

The local currency opened on a weak note at 71.01.

The rupee depreciated by 6 paise to close at 71.03 against the US dollar on Thursday as steady rise in crude oil prices weighed on investor sentiments.

Forex traders said the rupee ended on a weak note as importers rushed for hedging amid expectations of intervention by the central bank.

At the interbank foreign exchange market, the local currency opened on a weak note at 71.01 and fell further to a low of 71.18. It finally settled at 71.03, lower by 6 paise against its previous close.

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Printable version | Feb 20, 2020 5:24:13 PM | https://www.thehindu.com/business/markets/rupee-settles-6-paise-down-at-7103-against-us-dollar/article30349017.ece

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