Rupee breaks five paise
In the interbanking currency market, the rupee weakened by five paise today and at the close of trading, a dollar was found at Rs 74.47. Indian currency has broken seven paise in two days. On Monday, it had fallen by two paise to close at Rs 74.42 per dollar.
The rupee started today with a gain of six paise at 74.36 per dollar, but after that it came under pressure. At one point in mid-trade, it had broken down to Rs 74.54 per dollar. Finally closed at Rs 74.47 per dollar, down five paise as compared to the previous day.
The rupee came under pressure due to rise in crude oil prices in the international market. Crude oil has once again reached close to $ 75 per barrel. At the same time, the rupee weakened due to the rise in the dollar in the basket of other six major currencies of the world.
