Rupee slips to 75.35 against US dollar as crude oil spikes
The Hindu
Global oil benchmark Brent crude futures jumped 5.46% to $103.28 per barrel amid a war in Ukraine
The rupee slipped by 2 paise to 75.35 (provisional) against the U.S. dollar on Monday due to rising crude oil prices amid deepening tensions between Russia and Ukraine.
Sustained foreign capital outflows also weighed on investor sentiment, forex traders said.
At the interbank foreign exchange market, the rupee opened weak at 75.73 against the U.S. dollar. However, it recovered most of its losses to quote at 75.35 at 3.30 p.m., down 2 paise from the previous close.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.46% higher at 97.06.
Global oil benchmark Brent crude futures jumped 5.46% to $103.28 per barrel amid a war in Ukraine.
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