Rupee slips 12 paise to close at 77.66 against U.S. dollar
The Hindu
On May 30, the rupee settled at 77.54 against the U.S. dollar.
The rupee depreciated 12 paise to close at 77.66 (provisional) against the U.S. dollar on May 31, tracking a negative trend in domestic equities and surging crude oil prices.
At the interbank foreign exchange market, the rupee opened lower at 77.65 against the greenback and finally settled at 77.66, down 12 paise over its previous close.
During the session, the rupee touched an intra-day low of 77.70 and a high of 77.62.
On May 30, the rupee settled at 77.54 against the U.S. dollar.
This is also the fifth straight monthly decline for the rupee amid weak risk sentiments, foreign fund outflows and concerns over high inflation.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.04% higher at 101.70. Global oil benchmark Brent crude futures advanced 1.77% to $123.82 per barrel.
According to Dilip Parmar, research analyst, HDFC Securities, the rupee has become the worst-performing currency among Asian currencies and clocked the fifth monthly decline in a row in May on the back of foreign fund outflows and slower economic growth.
Flight AI177 will depart Bengaluru at 1.05 p.m. and arrive at London Gatwick at 7.05 p.m. (local time). From London Gatwick, flight AI178 will depart at 8.35 p.m. (local time) and arrive in Bengaluru at 10.50 a.m. (next day arrival). From Bengaluru, the flight will operate on Mondays, Wednesdays, Thursdays, Fridays and Sundays.