Rupee Registers a Drop Amidst Striking Gold Rate Surge

MUMBAI: The Indian rupee plunged by 4 paise to 82.63 against the US dollar on Monday against the backdrop of world major banks pledging to alleviate looses encurred by various banks.

At the interbank foreign exchange, the domestic unit opened stronger at 82.48 against the dollar. During intra-day, it went as high as 82.45 and hit the lowest level of 82.71. It finally settled at 82.63 (provisional) against the American currency, registering a fall of 4 paise against its previous close.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.03 per cent lower at 103.69.Global oil benchmark Brent crude futures declined sharply by 2.43 per cent to USD 71.20 per barrel.

Gold price rallied Rs 1,400 to touch a life-time high of Rs 60,100 per 10 grams. Silver also rose Rs 1,860 to Rs 69,340 per kilogramme.

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