Why rupee is once again under pressure
Apart from surging oil prices, higher demand for the greenback from importers and banks as well as the lower opening of the equity markets have weighed on the rupee
- Apr 22, 2019,
- Updated Apr 22, 2019 6:37 PM IST
The Indian rupee, which was Asia's best performing currency over the past three months, is back to staring at the psychologically important 70 mark against the US dollar. The domestic currency fell sharply by 47 paise to 69.82 against the greenback in early trade on Monday, the lowest in over a month. On Thursday, the last working day for the forex market last week, the rupee had managed to gain 25 paise to 69.35 against the greenback after three sessions of losses.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.02 per cent to 97.39. Here's a look at the factors weighing on the rupee:
The Indian rupee, which was Asia's best performing currency over the past three months, is back to staring at the psychologically important 70 mark against the US dollar. The domestic currency fell sharply by 47 paise to 69.82 against the greenback in early trade on Monday, the lowest in over a month. On Thursday, the last working day for the forex market last week, the rupee had managed to gain 25 paise to 69.35 against the greenback after three sessions of losses.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.02 per cent to 97.39. Here's a look at the factors weighing on the rupee: