Rupee slips to 5 month low, trades at 65.45 vs dollar

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NEW DELHI: The rupee on Monday plunged to 65.45 against the US dollar, its lowest level since November 14, 2017, during the afternoon trade.

Earlier, the domestic currency opened 12 paise lower at 65.32 against the US dollar as rising inflation fears amid worsening geopolitical environment.

US, British and French forces struck Syria with more than 100 missiles on Saturday in the first coordinated Western strikes against Damascus, targeting what they said were chemical weapons sites in retaliation for a suspected poison gas attack.

The action was aimed at degrading its chemical weapons capabilities in the biggest intervention yet in the conflict by western powers, said a Reuters report.

The local currency on Friday had settled 6 paise higher at 65.20 against the US dollar.

Oil prices fell on Monday as markets opened the week cautiously following western air strikes in Syria over the weekend, and as American drilling for new production continued to rise.

Meanwhile, the domestic equity market slipped into the negative territory on Monday. At 12:04 pm, the SP BSE Sensex was trading 79 points lower at 34,114.15 while NSE’s Nifty was down 15 points at 10,465.65.

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