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Rupee settles 9 paise down at 71.12 against US dollar

Forex traders said the rupee was weighed down against the US dollar after the RBI said it will conduct a special OMO in a move seen by market participants as an attempt to bring long-term yields lower.

December 20, 2019 / 05:33 PM IST

The rupee fell by 9 paise to settle at 71.12 against the US dollar on Friday amid a steady rise in crude oil prices and strengthening of the greenback overseas.

Forex traders said the rupee was weighed down against the US dollar after the RBI said it will conduct a special OMO in a move seen by market participants as an attempt to bring long-term yields lower.

At the interbank foreign exchange market, the domestic currency opened weak at 71.15, then went on to hit a low of 71.23 against the US dollar during the day.

It, however, gained some lost ground and finally settled at 71.12, showing a fall of 9 paise over its previous close.

On Thursday, the local unit had settled at 71.03 against the greenback.

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On a weekly basis, the rupee depreciated by 29 paise.
PTI
first published: Dec 20, 2019 05:32 pm

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