Business Standard

Rupee slides 30 paise to 76.83 against US Dollar amid oil price slump

Investors rushed to safe-haven bet US dollar due to market uncertainty after oil prices slumped into negative territory in US markets

tax, rupee, vivad se vishwas, taxes, taxation
Premium

During the session, the rupee witnessed high volatility and touched a high of 76.62 and a low of 76.84 against the US dollar

Press Trust of India
The rupee on Tuesday slid by 30 paise to close at 76.83 against the US currency due to forex outflows and strengthening of the dollar in overseas markets.
Investors rushed to safe-haven bet US dollar due to market uncertainty after oil prices slumped into negative territory in US markets hit by weak demand after coronavirus-related lockdowns, traders said.
The rupee opened weak at 76.79 at the interbank forex market and during the day lost further ground and finally settled at 76.83, down 30 paise over its last close. The rupee had settled at 76.53 against the US dollar on Monday.
During the session,

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in