The rupee tumbled 20 paise to close at 74.99 (provisional) against the US dollar on Friday, as rising crude oil prices weighed on investor sentiment, even as the domestic equities ended with handsome gains. The local unit finally settled at 74.99 a dollar, down 20 paise over its previous close. On Thursday, the rupee had settled at 74.79 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.06 per cent lower at 94.15. "The Indian rupee registered worst weekly loss after April 09 following a surge in crude oil and dollar index," said Dilip Parmar, Research Analyst, HDFC Securities.

Source: Hindustan Times October 08, 2021 10:30 UTC