Mumbai: The pressure on the rupee has increased due to lack of resolution to the Iran war and rise in the price of crude oil. Due to this the rupee is falling again. The trend of decline in the Indian rupee continued for the fourth consecutive session. On Thursday, it closed at 94.11 (provisional) with a fall of 33 paise. The rupee breached the 94 level for the second time in a month, amid rising crude oil prices and peace talks in West Asia going into an uncertain phase.
Read :- Dollar vs Rupee: Rupee is breathless in the war of West Asia, it broke against the dollar and reached a record low of 94.93, how much more will it fall now?
Forex traders said that amid increased global demand for the US currency, heavy selling of domestic stocks and continuous withdrawal of foreign funds have also put further pressure on the domestic currency, which has lost more than 1 percent in a week.
At the interbank foreign exchange market, the rupee opened at 94.03 and fell to the day’s low of 94.17 against the US dollar. It also touched a high of 93.98 during the day but finally closed at 94.11 (provisional) against the US dollar, registering a decline of 33 paise over its previous close.
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