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West Asia war: Rupee slips 9 paise to 93.44 against US dollar

The Indian rupee weakened due to rising crude oil prices and higher inflation data, even though domestic equities saw strong gains. Global uncertainties and movement in oil markets continued to influence currency trends

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Higher inflation data drags rupee down against US dollar. Representational Image

Higher inflation data drags rupee down against US dollar. Representational Image

The rupee weakened after early gains and settled at 93.44 (provisional) against the US dollar, down 9 paise from its previous close. It opened stronger at 93.19 and even touched an intra-day high of 93.13, but later lost momentum and ended at the day’s lowest level.

On Monday, the rupee had already fallen by 52 paise to close at 93.35. The forex market remained closed on Tuesday due to Baba Saheb Ambedkar Jayanti.

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