"rupee"

Moreover, a negative trend in domestic equities and firm American currency sapped investor appetite, forex traders said.

The increase in tuition fees in the US, the UK and Australia by 10 to 20 per cent is another reason behind the costlier education abroad. Also, the airfares have increased in recent times, which has added burden on students studying abroad.

Moreover, a negative trend in domestic equities and elevated crude oil prices sapped investor appetite, forex traders said.

At the interbank foreign exchange, the rupee opened on a strong note at 81.52 against the greenback, then pared the gains and fell to 81.66, registering a fall of 4 paise over its previous closing.

Mumbai: The rupee strengthened by 31 paise to 81.51 against the US dollar in early trade on Tuesday, tracking weakness in the greenback in overseas markets and a rally in domestic equities. However, rising crude price in the international market restricted the rupee, forex traders said. At the interbank foreign exchange, the local currency opened […]

Besides, surging crude prices in the international market impacted the domestic unit, traders said.

The downward spiral of the Indian rupee could hit the industry hard, especially production segments where imports are a crucial component.

Forex traders said the rupee gained as the dollar retreated from its elevated levels. However, the local unit is likely to remain volatile amid the announcement of the Reserve Bank of India (RBI) monetary policy decision.

At the interbank foreign exchange, the domestic unit opened at 81.60 against the dollar, then touched 81.58, registering a gain of 35 paise over its previous close.

The rupee had slipped below the 82-level for the first time on Wednesday and that the falling rupee is spooking the financial plans of those wanting to pursue higher education abroad.