Rupee Opens Weak At 71.63 As Global Crude Oil Price Surges Most By 15%

Rupee in Monday's trade opened weak at 71.63, down 71 paise versus previous close of 70.92 per US dollar.

The jump in global crude oil price by a record 15% after drones attacked major Saudi facility weighed on the domestic currency.

For the last one week, rupee had been showing signs of recovery owing to decline in crude oil price and easing of US-China trade tensions.

In the first half of September, FPIs have emerged as net buyers, by infusing as much as Rs. 1841 crore into the capital markets. It is worth mentioning that for the previous two months they continued to be net sellers.

The benchmark Indian indices are also set for a gap-down opening tracking muted trend in most Asian markets.

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