Dollar-rupee pair could trade in the range of 67.23-67.55 in the near term: IFA Global The rupee (INR) fell to fresh 15-month low of 67.42 per US dollar (USD) today after US President Donald Trump pulled the United States out of an international nuclear deal with Iran.
Yesterday, the rupee had closed 5 paise higher at 67.08 against US currency.
The US move sparked worries about global oil supplies, pushing global crude prices higher.
India imports bulk of its crude oil requirement.
After rising over 6 per cent last year against the US dollar, the rupee is on a weakening trend this year.
The rupee is down over 5 per cent against the US dollar so far against the US dollar.
The rupee's weakness against the US dollar is being attributed to the rising crude oil prices, which puts pressure on balance of payments, and rising US bond yields.