Rupee down on oil payments

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Rupee down on oil payments
The partially convertible India rupee slipped on Friday by 17 paise per dollar on the Interbank Foreign Exchange.

The Indian rupee opened at 49.15 per dollar versus 49.21 yesterday. At 12.15 pm IST the rupee was seen trading at Rs 49.38 down Rs 0.17.

The Rupee was weighed by oil payments, dollar demand and weak trend seen in the domestic equity market.

Yesterday, crude oil rose to $126 per barrel, which tends to have an impact on the rupee. Crude oil which is priced in US dollar puts a significant pressure on the rupee.

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Read more about: currency, dollar, crude
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