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Rupee opens 12 paise down at 65.32 against dollar

rupee-opens-12-paise-down-at-65-32-against-dollar

The rupee on Monday opened 12 paise down at 65.32 against the US dollar as rising crude oil prices raised concerns of widening current account deficit and renewed inflation fears amid worsening geopolitical environment.

US early Saturday launched air strikes on Syria in a combined operation with France and Britain in response to a suspected poison gas attack that killed dozens of people last week. The action was aimed at degrading its chemical weapons capabilities in the biggest intervention yet in the conflict by western powers, said a Reuters report.

The local currency on Friday settled 6 paise higher 65.20 against the US dollar.

Brent crude, an international benchmark, was trading marginally higher at $71.76 a barrel in early Asian trade.

Meanwhile, domestic equity markets opened in the red following tepid global cues. The BSE Sensex was trading 155 points, or 0.45 per cent, down at 34,037 at around 9.20 am (IST), while the NSE Nifty index was down 58.90 points , or 0.56 per cent, at 10,421.70 at around the same time.

Other Asian stocks were mixed as traders assessed the likelihood the fallout of an American-led strike on Syria could be contained.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 399.59 crore on Friday, April 13, 2018, as per provisional data released by the stock exchanges.

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