Rupee closes 2021 at 74.29, declines by 1.67% in year
The Hindu
Global oil benchmark Brent crude futures fell 0.74% to $78.94 per barrel
The rupee rose by 13 paise to close at 74.29 against the U.S. dollar on the last trading session of 2021, tracking positive domestic equities amid year-end dollar selling by banks and exporters.
The rupee, however, closed the 2021 year with overall losses of 122 paise or 1.67% due to a rise in crude oil prices and firming up U.S. bond yields amid expectations of rate hike by the U.S. Federal Reserve to rein in inflation. The rupee had closed at 73.07 on December 31, 2020.
The local unit on the last trading day of 2021 opened at 74.35 against the greenback at the interbank foreign exchange market and witnessed an intra-day high of 74.10 and a low of 74.38. It finally settled at 74.29, a rise of 13 paise.
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