Rupee falls for a 3rd day, loses 30 paise to 93.79/$

Kolkata: The rupee closed 30 paise down Wednesday at 93.79/80 a dollar amid rising crude prices and uncertainties over a West Asia peace agreement. This is the third straight daily fall which dealers attributed also to month-end dollar demand and short covering by importers.

US President Donald Trump’s threat to bomb Iran also led the global crude price rise above $98 a barrel.

The local currency opened lower at 93.69/70 a dollar against the previous close of 93.50, dealers said. Dollar demand from defence companies kept the rupee under pressure initially, people aware said.

“All oil imports are being routed through RBI’s special window. Rupee may touch in and around 94 levels against the dollar but would return below 93 again. RBI has capped most of the speculative windows,” said KN Dey, a veteran foreign exchange market consultant.