Indian Rupee fall 24 paise to 76.43 against the US dollar on Monday

At Foreign exchange, the rupee opened on a muted note at 76.41 against the US dollar, then fell and touched an early low of 76.43 in initial deals, registering a fall of 24 paise over its previous close. On Wednesday, the rupee was down by 4 paise closed at 76.19 against the US dollar.

Meanwhile, International oil benchmark Brent crude futures moved 0.97 per cent closed at $112.78 per barrel. The dollar index, which gauges the greenback’s strength against a basket of six currencies was up by 0.18 per cent closed at 100.67.

Sriram Iyer, Senior Research Analyst at Reliance Securities said. “The US dollar has started stronger this early Monday morning in Asian trade as more hawkish comments from Federal Reserve officials reinforced expectations for faster US policy tightening.”

Hawkish Fed officials continued to push the dollar and the bond yields higher and will weigh on sentiments. “Emerging market and Asian peers were weaker against the US dollar in this Monday morning and can weigh on sentiments,” he added.

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