NEW DELHI: The rupee weakened against the US dollar on Monday as a sharp rise in crude oil prices and persistent concerns over the spread of the ‘Omicron’ strain of the coronavirus weakened appetite for emerging market currencies, dealers said.
The partially convertible rupee opened at 75.2150 per US dollar on Monday as against 75.1625 at the previous close. So far in the day, the domestic currency moved in a band of 75.2150-75.2575 per dollar.
A rise in the US dollar index amid concern over the new and heavily mutated strain of the virus also ate into appetite for riskier emerging market currencies such as the rupee.
