On Friday, the Indian Rupee traded at Rs.82.20 per US dollar, a deep erosion of value in the currency in forex market owing to steep rise in oil prices amid volatile global markets.
Rising international oil prices saw the Indian rupee depreciating to Rs 81.94 against the US dollar on Thursday, which opened at Rs 81.52 at the interbank forex market and then went down to Rs 81.94.
Experts said demand for dollars from oil importers resulted in a fall in rupee. The oil prices are expected to climb up as the producing nations have announced their plans to cut production.
(Developing story)
