Mumbai: The Indian rupee move lower against the dollar on Monday as oil importer demand kicked in, dealers said.
The rupee is now trading at 55.32/33 levels to the dollar as against Friday’s close of 55.28/29.
Dealers said rise in global crude oil prices impacting pair with oil importers coming in to cover USD needs.
Brent crude rose above $113 per barrel on Monday on renewed fears of supply disruption as Israel's latest comments on stopping Iran from proceeding with a disputed nuclear programme stoked tension in the region.
However, USD selling likely to come in at higher levels keeping pair in 55.15-55.45 range for session, dealer adds.
Copyright @ Thomson Reuters 2012
The rupee is now trading at 55.32/33 levels to the dollar as against Friday’s close of 55.28/29.
Dealers said rise in global crude oil prices impacting pair with oil importers coming in to cover USD needs.
Brent crude rose above $113 per barrel on Monday on renewed fears of supply disruption as Israel's latest comments on stopping Iran from proceeding with a disputed nuclear programme stoked tension in the region.
However, USD selling likely to come in at higher levels keeping pair in 55.15-55.45 range for session, dealer adds.
Copyright @ Thomson Reuters 2012
