Rupee plunges to 5-mth low of 65.31 on crude price surge
The rupee today nosedived 32 paise to hit a fresh five-month low of 65.31 against the US dollar as surging crude oil prices and growing geopolitical uncertainties rattled forex market sentiment. This is the lowest closing for the home currency since November 14, 2017, when it had ended at 65.42 against the greenback. Brent crude, an international benchmark, is trading near a four-year peak of USD 71.70 a barrel in early Asian trade. A sense of volatility prevailed in the domestic currency market after a rapid surge in global crude…
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