Rupee slumps 20 paise to 74.75 against US dollar

On Thursday, the rupee had settled at 74.55 against the US dollar.

 

The Indian Rupee depreciated 20 paise to 74.75 against the US dollar in opening trade on Friday as firm American currency and rising crude oil prices weighed on investor sentiment.


At the interbank foreign exchange, the rupee opened at 74.71 against the dollar, then fell further to 74.75, registering a fall of 20 paise over its previous close.


On Thursday, the rupee had settled at 74.55 against the US dollar.


The Indian rupee started on a weaker note this Friday against the greenback tracking its strength and strong crude oil prices, Reliance Securities said in a research note.


Moreover, Asian currencies have started weaker against the greenback this Friday morning and could also weigh on the local unit, the note said.


Global oil benchmark Brent crude futures fell 0.05 per cent to USD 75.80 per barrel.

 

India Scanner News Network

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