Rupee Stares At 70 A US Dollar After Sharp Fall

Indian rupee (INR) today fell sharply against the US dollar (USD) as surging oil prices stoked fiscal slippage and inflationary concerns. The rupee fell to 69.88 against the US dollar at day’s low - its lowest level since March 11 - as compared to Thursday’s low of 69.36. Bond yields also hardened in the wake of rising oil prices. Indian stock and forex markets were closed on Friday. So far during the day, the rupee traded in the range of 69.73 to 69.88 against the US dollar, after opening at 69.76. The rupee was trading at 69.73 a dollar. For More Information Please Visit : www.dollaradvisory.com and Call : +91 9111-179961