Rupee settles 30 paise lower at 76.83 against US dollar
Forex traders said the decline in the rupee was largely due to sharp drop in oil prices and stronger greenback which edged higher past the 100 level mark.
The rupee opened weak at 76.79 at the interbank forex market and during the day lost further ground and finally settled at 76.83, down 30 paise over its last close.
The rupee had settled at 76.53 against the US dollar on Monday.
During the session, the rupee witnessed high volatility and touched a high of 76.62 and a low of 76.84 against the US dollar.
WTI crude oil futures collapsed to negative; while Brent crude futures, the global oil benchmark, fell 14.47 per cent to USD 21.87 per barrel.
Domestic bourses were trading on a negative note on Tuesday.
Benchmark Sensex was down 1,034.07 points at 30,613.93, and Nifty shed 285.75 points to trade at 8,976.10.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.25 per cent to 100.20.
Traders said investor sentiment remain fragile amid concerns over the impact of coronavirus outbreak on the domestic as well as global economy.
(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)
- Google’s birthday: Here's a look at the significant milestones in Google's 23-year history
- Aditya Birla AMC IPO’s grey market premium stands at ₹70 per share; up 10% from issue price band
- WATCH: "Someone said I am good enough to be a rickshaw puller," shares Freshworks CEO Girish Mathrubootham in a candid chat
- Paras Defence and Space Technologies IPO: Here’s how to check allotment status
- MyGlamm has set aside $100 million to acquire 6 beauty and personal care brands under new entity
- After Moderna chief, Pfizer CEO says COVID-19 likely to end in a year
- Like many 23-year-olds, Google is facing ‘trust’ issues
- COVID-19: Mizoram's positivity rate at 32% after 1,659 new cases registered in the state