INSUBCONTINENT EXCLUSIVE:
The rupee declined by as much as 23 paise on Monday
The rupee opened lower at 71.35 on Monday and weakened to hit an intraday low of 71.46 against the dollar in morning deals, compared with
its previous close of 71.23
Rising crude oil prices along with foreign fund outflows and subdued equity markets led to weakness in the rupee against the greenback in
hit their highest levels since November last year
The crude oil prices were lifted by production cuts led by the Organization of the Petroleum Exporting Countries (OPEC), US sanctions on
Iran and Venezuela, and hopes that the China-US trade dispute may soon end.Brent crude futures - the global benchmark for crude oil - were
last seen trading 0.6 per cent higher at $66.66 per barrel
During the session, they climbed to their highest level recorder since November 2018 at $66.78 a barrel.The dollar index - which measures
investors (DIIs) bought equities to the tune of Rs 853.25 crore on Friday, according to provisional data from the NSE.(With agency inputs)
