Mumbai, Oct. 27 -- The rupee plunged 36 paise to close at 88.19 against the US dollar on Monday, as broad strength in crude oil prices and month-end dollar demand from importers weighed on investor sentiment.
Forex traders said the rally in crude oil prices was mainly driven by a potential US-China trade deal, which supports expectations for a stronger global oil demand.
At the interbank foreign exchange, the rupee opened at 87.87 against the greenback and fell to an intra-day low of 88.31 and a high of 87.86. It finally closed the day at 88.19, down 36 paise.
Published by HT Digital Content Services with permission from Millennium Post.