Left Menu
Development News Edition

Rupee trims some losses, down 15 paise against USD


Rupee trims some losses, down 15 paise against USD

The rupee trimmed some losses, trading 15 paise lower at 72.78 against the US currency in late morning deals on sustained month-end demand for dollar from importers, amid surging crude oil.

Caution ahead of the US Federal Reserve's policy meeting outcome Wednesday on likely interest rate hike also weighed on the rupee sentiment.

Brent crude oil rose to the highest level in four years after Saudi Arabia and Russia ruled out any immediate increase in production despite calls by US President Donald Trump for action to raise global supply.

The international benchmark Brent crude breached the USD 81 a barrel mark by surging over 3 percent to trade at USD 81.28 a barrel.

The rupee opened lower at 72.89 against Monday's closing level of 72.63 a dollar at the interbank foreign exchange market here.

The rupee dipped near all-time lows 72.96 and erased some lost ground to quote at 72.70 in morning deals, it was trading at 72.78 at 1030 hrs.

"Recovery in local equities is lending some support to the rupee," a dealer said.

Overseas, the US dollar was higher against its major peers in early Asian trade as investors looked to policy clues from the US Federal Reserve, which is widely expected to hike rates this week, even as the US-China trade dispute kept markets cautious.

Meanwhile, the 30-share BSE Sensex was trading higher by 116.14 points, or 0.32 percent, at 36,421.16 at 1050 hrs.


TRENDING

OPINION/BLOG/INTERVIEW

Hyderabad Encounter: Time to review modern judiciary and restore people’s confidence

Its probably for the first time in the history of independent India, the parliamentarians, chief ministers and ministers in the Union and State governments are openly supporting an encounter. This indicates the people from top to bottom hav...

What happens to your outstanding loans if the bank falls?

... ...

Time for a change! Innovations to stop the growing plastic pollution

As the planet is drowning in plastic pollution, many new innovative approaches and solutions have emerged to effectively deal with the menace....

How to avoid fake universities and fishing bait like Farmington

As education sharks are roaming around to prey, we present a guide on how to mitigate hunters and reach to a genuine universityinstitute. In this era of commercialization of education, the fake universities and economic frauds in educationa...

Videos

Latest News

Golf-Reed violation 'opens the door' for Presidents Cup crowds - Leishman

Marc Leishman thinks Patrick Reeds rules violation at the Hero World Challenge has given the Melbourne crowd plenty of ammunition to try and get under the Americans skin at next weeks Presidents Cup. Reed was penalised two strokes on Friday...

Capitals edge Ducks after squandering lead

Jakub Vrana scored the game-winning goal and also had an assist and Braden Holtby made 27 saves to lead the visiting Washington Capitals to their sixth straight victory, 3-2, over the Anaheim Ducks on Friday night. Evgeny Kuznetsov and Trav...

UPDATE 2-Bankrupt PG&E reaches $13.5 bln settlement with California wildfire victims

Californias bankrupt power producer PGE Corp said on Friday it had reached a 13.5 billion settlement with victims of some of most devastating wildfires in the states modern history. The agreement helps smooth the way for the beleaguered com...

Play abandoned due to dangerous MCG pitch

Melbourne, Dec 7 AFP Play was abandoned Saturday during a domestic game due to a dangerous pitch at the Melbourne Cricket Ground, just weeks before it is due to host the traditional Boxing Day Test. A decision to call off play was made on d...

Give Feedback