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Rupee slips to 93.73 against dollar as crude prices rise amid Iran uncertainty

The Indian rupee fell 20 paise to 93.73 against the US dollar in early trade on Tuesday. Despite a five-day pause in potential US strikes on Iran, uncertainty over negotiations and heavy foreign fund outflows kept the currency under pressure

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Rupee slips despite Trump announcing pause in strikes on Iran. Representational Image

Rupee slips despite Trump announcing pause in strikes on Iran. Representational Image

The Indian rupee started Tuesday’s trading at 93.66 per US dollar before slipping to 93.73, down 20 paise from Monday’s close. The local unit had hit a record low of 93.98 against the greenback in the previous session, the PTI reported.

Analysts attributed the weakness to rising crude oil prices and ongoing tensions in West Asia.

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