Forex traders said the rupee ended on a weak note as importers rushed for hedging amid expectations of intervention by the RBI.
Foreign currency, which accounts for 93 per cent of the forex reserves, grew from $442 billion to $568 billion during the pandemicbetween April 2020 and July 2021. DC Image
Mumbai: The rupee depreciated by 6 paise to close at 71.03 against the US dollar on Thursday as steady rise in crude oil prices weighed on investor sentiments.
Forex traders said the rupee ended on a weak note as importers rushed for hedging amid expectations of intervention by the central bank.
At the interbank foreign exchange market, the local currency opened on a weak note at 71.01 and fell further to a low of 71.18. It finally settled at 71.03, lower by 6 paise against its previous close.
Next Story
