Rupee plunges 26ps to 90.16/$

Mumbai: The rupee declined 26paise to settle at 90.16 against the US dollar on Friday, weighed down by elevated global crude oil prices and persistent foreign fund outflows amid rising geopolitical tensions.

A stronger greenback and weak sentiment in domestic equity markets are putting further pressure on the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened higher at 89.88 but lost ground through the day to settle at 90.16 against the US dollar, down 26 paise from its previous close.

During the day, the local currency traded between 89.88 and 90.25. On Thursday, the rupee settled 3 paise lower at 89.90 against the US dollar.