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Bloomberg Quint

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Image Credit: Bloomberg Quint

Rupee Closes At Record Low Amid Strong Dollar, Rising Oil Prices

  • The Indian rupee weakened by 10 paise to close at a record low of 85.12 against the US dollar on Monday.
  • Brent crude rose 0.41% to $73.24 per barrel, supported by easing concerns over a US government shutdown and a softer US Personal Consumption Expenditures price index.
  • Exporters advised to hold back on selling dollars, while importers are advised to utilize dips in the rupee's value to meet their dollar requirements.
  • The dollar-rupee pair is expected to trade within a range of 84.90 to 85.10.

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