Business

Rupees widens losses by 5 paise at 73.84 against US $

PTI

The rupee furthered its losses by another 5 paise to close at 73.84 against the US dollar on Tuesday in line with weaker Asian peers amid concerns over a new coronavirus strain.At the interbank forex market, the domestic unit opened at 73.95 against the US dollar and witnessed an intra-day high of 73.82 and a low of 73.95.The local unit finally closed at 73.84 against the American currency, registering a fall of 5 paise over its previous close. On Monday, the rupee plunged 23 paise to end at a two-week low of 73.79 against the US dollar. "The Indian rupee ended marginally weak against the US dollar, tracking weakness in most regional currencies on concerns that a infectious new coronavirus strain could slow down the prospects of a global economic recovery," said Sriram Iyer, Senior Research Analyst at Reliance Securities.