Rupee Closes At Over One-Week Low Of 73.60 Against Dollar

At the current level, the rupee has recovered 4.30 per cent from an all-time low of 76.91 against the dollar, registered in April this year.

Rupee Closes At Over One-Week Low Of 73.60 Against Dollar

Rupee Vs Dollar: The rupee is down 3.11% against the dollar so far this year

Rupee Vs Dollar Rate: The rupee weakened by 26 paise - or 0.35 per cent - to end at 73.60 against the US dollar on Tuesday, its worst closing level since August 31. It moved in a 26-paisa range, between 73.38 and 73.64 against the US currency, having begun the four-hour session weaker at 73.62 compared to its previous close of 73.34. Strength in the greenback overseas and a mixed trend in other Asian currencies put pressure on the rupee, according to analysts. 

Domestic share markets recovered early weakness to move higher with heavyweight Reliance Industries leading the charge. The S&P BSE Sensex index rose as much as 0.68 per cent to 38,678.83 and the broader NSE Nifty 50 benchmark climbed 0.57 per cent to 11,419.65.

However, selling pressure in metal and consumer goods stocks limited the upside.

The dollar index - which gauges the US dollar against six currencies - was up 0.44 per cent at the time, having climbed up as much as 0.52 per cent earlier on Tuesday. 

The yield on 10-year government bond was at 6.03 per cent, as against 5.99 per cent the previous day.

Meanwhile, crude oil prices dropped, extending losses to a fifth session in a row, pressured by concerns that a recovery in demand could weaken as coronavirus infections flare up around the world. Brent futures - the global benchmark for crude oil - were down 1.55 per cent, having declined as much as 1.69 per cent to $41.30 per barrel earlier during the day.

At the current level, the rupee has recovered 4.30 per cent from an all-time low of 76.91 against the dollar, registered in April this year. Still, it is down 3.11 per cent so far this year.