Rs  tumbles 14 paise amid US-Iran rift

| | Mumbai
  • 0

Rs  tumbles 14 paise amid US-Iran rift

Saturday, 22 June 2019 | PTI | Mumbai

The rupee dived 14 paise to close at 69.58 against the US dollar Friday, pressured by firming crude oil prices amid intensifying geopolitical tensions in the Gulf region.

A broad sell-off in the domestic equity markets also kept sentiment at a low ebb, forex traders said.

At the interbank foreign exchange (forex) market, the domestic currency opened sharply lower at 69.75 against the dollar. However, it recouped some losses to finish at 69.58, registering a fall of 14 paise.

The rupee had settled at 69.44 against the US dollar Thursday.

“Overnight surge in crude oil prices have weighed on Indian rupee as it weakened the most among Asian currencies. The geopolitical risks from escalation of US-Iran tension pushed crude oil price higher.

“In near-term, rupee is having resistance around 69.03 and support at 70.01, the 100 days simple moving average,” said V K Sharma, Head — PCG and Capital Market Strategy, HDFC Securities.

 

State Editions

LG informs president Murmu of Atishi oath

19 September 2024 | Staff Reporter | Delhi

Delhi records 2,170 arms act cases in 2024

19 September 2024 | Staff Reporter | Delhi

North Delhi Medical College holds convocation ceremony

19 September 2024 | Staff Reporter | Delhi

Two cousins drowned in Yamuna during Ganpati immersion

19 September 2024 | Staff Reporter | Delhi

Sunday Edition

Paris Paralympics Para athletes bask in glory and gold

15 September 2024 | Rishabh Malik | Agenda

DUBLIN'S HIDDEN GEM

15 September 2024 | AKANKSHA DEAN | Agenda

From wheels to wings

15 September 2024 | Gyaneshwar Dayal | Agenda

We hope to instil a respect for our heritage:Tarun Thakral

15 September 2024 | Pioneer | Agenda

The Monsoon’s Whisper in Every Note

15 September 2024 | SAKSHI PRIYA | Agenda