India, Oct. 27 -- The Indian rupee weakened by 43 paise to close at 88.26 (provisional) against the US dollar on Monday, pressured by rising crude oil prices and month-end dollar demand from importers.
Forex traders noted that the uptick in global crude prices followed optimism around a potential US-China trade deal, which has boosted expectations of higher global oil demand.
At the interbank foreign exchange market, the rupee opened at 87.87 and traded between a high of 87.86 and a low of 88.31 before settling at 88.26 (provisional), marking a 43 paise decline from its previous close.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....