Rupee closed with a weakness of 17 paise


New Delhi. In the Indian currency market, the rupee on Monday closed down by 17 paise against the US dollar. The fall in rupee has been attributed to increased demand for the dollar, volatility in the stock market and a strengthening of the dollar against six other international currencies.

In the Inter Bank Foreign Exchange market, the rupee today started trading with a weakness of 10 paise at Rs 73.60 per dollar. After the resumption of trading, the rupee continued to depreciate under the pressure of increasing demand for the dollar. By noon, the rupee had depreciated by 20 paise. Due to which the rupee fell to the level of 73.70. However, there was some improvement in the position of the rupee at the last moment, due to which the rupee depreciated by 17 paise from the closing level of the previous trading day i.e. September 9 to close at Rs 73.67 per dollar.

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The dollar index, which shows the position of the US dollar in the money market today, also rose 0.09 per cent to 92.66. Before this, on the last trading day of last week i.e. on Thursday, the rupee had finally gained 10 paise after showing weakness in the first trading session. On the strength of this increase, the rupee closed the trade at Rs 73.50 per dollar.

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