Rupee weakens due to the strength of crude oil


New Delhi. The trend of depreciation of rupee against dollar continues. The strengthening of crude oil prices in the international market on Tuesday weakened the rupee. In early trade today, the rupee fell by 10 paise to Rs 74.20 per dollar against the dollar.

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Earlier today, the rupee weakened by 8 paise to 74.18 per dollar in the Inter-Bank Foreign Exchange market today, but the rupee slipped due to the fear of increasing demand for the dollar as the price of crude oil rose in the international market. Tax came down to 74.20 level. On Monday, the rupee had closed at 74.10 against the dollar. With the rupee reaching the level of 74.20, so far today the rupee has weakened by 10 paise.

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Today, the futures price of Brent crude in the international market, showing a rise of 0.32 percent, has reached $ 75.14 per barrel. It is believed that the price of Brent crude may increase further by 1 to 2 dollars per barrel. If this happens, due to the fear of increasing demand for the dollar, the value of the rupee may fall even more against the dollar.

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