The Indian rupee closed weaker on Monday, as the US dollar gained following the assassination attempt on former President Donald Trump.
The local currency closed 7 paise weaker at Rs 83.60; it had opened at Rs 83.54 against the greenback, according to Bloomberg. It had closed at Rs 83.53 on Friday.
The dollar was at 104.08, while Brent crude was trading at $85.10 per barrel.
India’s retail inflation reached a four-month high in June, primarily due to a rise in vegetable prices, reaching 5.08%, up from 4.75% in May, according to data from the Ministry of Statistics and Programme Implementation, released on Friday.
“The Brent crude oil price fell to $85.12 as the dollar strengthened after the attack on Trump, while investors eyed the progress of talks for a Gaza ceasefire,” said Anil Kumar Bhansali, head of Treasury and executive director of Finrex Treasury Advisors LLP.
The rupee may trade in a narrow range of Rs 83.48-83.58 as the RBI continues to protect the higher levels, Bhansali said.
