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Rupee Tumbles On Rising Crude To 68.82


In trade today, rupee opened unchanged at 68.71 per US dollar. The earlier gains in the currency have all been shed on the back of rising crude oil price and foreign fund outflow.


Rupee Tumbles On Rising Crude To 68.82

Meanwhile, the greenback which showed signs of weakness after the US Fed Chair's comments raising hopes on rate cut later this month, has now been gaining ground against a basket of major currencies. This has also been weighing on the home currency.

Bond yield on 10-year benchmark government bonds have further retreated lower after tariff threat has increased the price for crude oil.

Meanwhile, stock indices have been volatile with the Nifty holding the levels of 11,650.

Story first published: Wednesday, July 17, 2019, 10:29 [IST]
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