Indian Rupee slips again, nears 73 against US Dollar
The Indian rupee extended decline in the opening trade after crude prices soared ahead of the impending US sanctions on Iran and ahead of Fed meet. The rupee opened lower by 26 paise at 72.96 per dollar.
The 10-year gilt yield stood at 8.13%, below its previous close of 8.12%. Currently, the rupee is trading at 72.83/$. The rupee is down more than 13% against the US Dollar so far this year.
The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 72.69 and for Euro stood at 85.25. The RBI’s reference rate for the Yen stood at 64.61; reference rate for the Great Britain Pound (GBP) stood at 94.99.
Indian Rupee slips again, nears 73 against US Dollar < Currency News