Rupee sinks 23 paise to close at 86.78 against US dollar
Mumbai, Jun 23 (PTI) The rupee plunged 23 paise to close at a five-month low of 86.78 (provisional) against the US dollar on Monday amid a strengthening dollar and volatile crude oil prices following the US strike on Iran’s nuclear facilities. A sharp decline in the domestic equity markets further pressured the rupee, according to forex experts. However, strong FII inflows, along with a rise in the country’s forex reserves prevented further losses in the rupee, they said. At the interbank foreign exchange the rupee opened at 86.75 against the greenback and traded in the range of 87.67 to 86.85