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Rupee at 3-week low of 71.35 against Dollar

Rupee at 3-week low of 71.35 against Dollar
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The rupee depreciated by 4 paise to close at a fresh three-week low of 71.35 against the US dollar on Friday, continuing its losing streak for the sixth day in a row amid crude oil prices hitting three-month high levels.

Mumbai: The rupee depreciated by 4 paise to close at a fresh three-week low of 71.35 against the US dollar on Friday, continuing its losing streak for the sixth day in a row amid crude oil prices hitting three-month high levels.

Forex traders said the $/INR spot has been trading in a tight range amid lack of cues.

The rupee opened higher at 71.26 and touched a high of 71.19 in morning trade.

Later, it lost ground and fell to a low of 71.40 before closing at 71.35, the lowest level since December 4. On a weekly basis, the rupee depreciated by 19 paise.

Crude oil prices rose to three-month high levels on positive US and Chinese economic data.

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