Rupee falls by 24 paise
Rise in crude oil and US dollar In the interbanking currency market, the rupee today fell by 24 paise and at the close of trading one dollar was found at Rs 74.55. The Indian currency had gained 43 paise on Monday at Rs 74.31 per dollar.
The rupee was bullish in the beginning today. It opened higher by three paise at Rs 74.28 per dollar and strengthened to Rs 74.25 per dollar. But it came under pressure with a strong dollar and a sharp rise in crude oil.
After falling to Rs 74.62 per dollar before the close of trading, the rupee finally closed down 24 paise at 74.55 per dollar.
Crude oil has crossed $77 per barrel in the international market. This increased the demand for the dollar and weakened the rupee.
