Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
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The rupee snapped its three-session gaining streak to end 26 paise lower at 73.83 against the dollar on Monday after crude prices rose amid intensifying geopolitical tensions. Dealers said a spurt in dollar demand from importers dragged down the domestic currency. At the Interbank Foreign Exchange (Forex), the rupee opened lower at 73.80 and lost further ground to hit an intra-day low of 74.07 against the dollar on strong demand for the American currency from importers. However, the rupee clawed back some lost ground and finally settled the day at 73.83, down by 26 paise, posting its first loss after three consecutive days of gain at the interbank foreign exchange market.
