Rupee closes tad higher by one paise at 66.65 against USD

Rupee down by 52 paise against USD

Mumbai, Jan 8 : The Rupee on Tuesday weakend by 52 paise to 70.20 against the US Dollar on rising demand of US Dollars by bankers and importers, Amid rising crude oil prices dealers at Forex Market said.

The rupee opened weak at 69.83 at the interbank forex market against its previous close of 69.68 a dollar.

The rupee weakened even after the Central Statistics Office (CSO) released positive advanced estimates of national income for 2018-19. The domestic economy is expected to grow at 7.2 per cent in 2018-19 against 6.7 per cent in the previous fiscal mainly due to improvement in the performance of agriculture and manufacturing
sectors, the CSO had said on Monday.

High oscillation was seen during the day, as the indian currency registered day high and low at 70.24 and 69.80 respectively.

Strong dollar against other world currencies put pressure on rupee however postive close in stock market capped the fall, they added.  (UNI)