Money market closed for Chhatrapati Shivaji Jayanti

The rupee plummeted 30 paise to end at a fresh one-week low of 64.21 against the US dollar on Friday, hit by a double whammy of rising global crude prices and worsening trade deficit.

Money market closed for Chhatrapati Shivaji Jayanti

Mumbai: Money markets are closed on Monday for the 'Chhatrapati Shivaji Maharaj Jayanti'.

The rupee plummeted 30 paise to end at a fresh one-week low of 64.21 against the US dollar on Friday, hit by a double whammy of rising global crude prices and worsening trade deficit.

This is its biggest fall since February 1, when it had lost 44 paise.

Overall, sentiment was weak after the country's trade deficit widened to an over three-year high on higher oil and gold imports.

The trade gap soared to USD 16.3 billion in January on account of a 26.1 percent increase in imports to USD 40.68 billion due to increased inbound shipments of crude oil, as per data released by the commerce ministry.

 

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