Rupee slips further, opens 2 paise lower against US dollar

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NEW DELHI: The rupee on Thursday opened 2 paise lower at 65.33 against the US dollar.

The local currency on Wednesday 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 was the lowest closing for the home currency since November 14, 2017, when it had ended at 65.42 against the greenback.

The RBI, meanwhile, fixed the reference rate for the dollar at 65.1272 and for the euro at 80.5884.

Oil markets remained tense on Thursday on concerns of a military escalation in Syria, but prices were some way off Wednesday’s 2014 highs as bulging American supplies weighed. Brent crude futures were at $71.98 per barrel at 0016 GMT, down 8 cents from their last close. US WTI crude futures were at $66.83 a barrel, virtually unchanged from their last settlement.

The domestic equity market opened on a flat note on Thursday. The BSE Sensex was trading 7 points lower at 33,932 while NSE Nifty slipped below the 10,400 level to 10,397 at around 9.19 am (IST).

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