Rupee marginally down against dollar

Mon, May 12 12:15 PM

Mumbai, May 12 (PTI) The Indian rupee fell back marginally to 41.6350/6450 against the US currency in late morning deals following good dollar buying by oil refiners due to spiralling global crude prices that rose to a new peak.

In quite trade at the Interbank Foreign Exchange (forex) market, the domestic unit resumed lower at 41.62/64 a dollar against last Friday's close of 41.

58/59 and moved down further to 41.6350/6450 in late morning deals.

Oil refiners and some importers were seen buying dollar in the wake of rising crude oil prices. World crude oil prices eased but remained high above USD 125 a barrel in Asian trade today after spiking to a record USD 126.

25 a barrel in intra-day trading at the New York Mercantile Exchange last Friday. The rising oil prices mainly concerned the traders as this might led to demand for dollar, affecting the rupee sentiment.

PTI.

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