Rupee remains above 67-level, slides 13 paise further

The rupee had closed on Monday at a 15-month low of 67.13 against the US currency following a surging demand for the dollar as crude oil prices zoomed past $75 per barrel level.

The rupee weakened by 13 paise to trade at a fresh 15-month low of 67.26 against the US dollar in early trade on Tuesday due to appreciation of the American currency overseas amid sustained foreign capital outflows.

The rupee had closed on Monday at a 15-month low of 67.13 against the US currency following a surging demand for the dollar as crude oil prices zoomed past $75 per barrel level. (AFP Photo)

Dealers attributed the rupee’s fall to increased demand for the US currency from importers.

However, a higher opening in the domestic equity market capped the losses.

Oil prices retreated from three-and-a-half-year highs as investors waited on an announcement by President Donald Trump on whether the US will reimpose sanctions on Iran.

The rupee had closed on Monday at a 15-month low of 67.13 against the US currency following a surging demand for the dollar as crude oil prices zoomed past $75 per barrel level.

Meanwhile, the benchmark BSE Sensex rose by 180.73 points, or 0.51%, to 35,388.87 in early trade.