INR ends lower; stronger US dollar and surging crude oil prices weigh
Mumbai, Oct. 28 -- The Indian rupee depreciated 21 paise to close at 95.28 (provisional) against the US dollar on Wednesday, weighed down by a stronger US dollar and surging crude oil prices. The rupee is expected to trade with a slight negative bias on a strong dollar and positive US Treasury yields. Elevated crude oil prices may also pressurise the rupee. In the interbank foreign exchange market, the rupee opened at 95.01 against the dollar, then lost ground to touch an intra-day low of 95.29 and finally settled for the day at 95.28 (provisional), registering a decline of 21 paise over its previous close. Indian shares closed lower as information technology stocks slumped amid renewed optimism surrounding artificial intelligence in glob...
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