Indian Rupee hits yet another low against US dollar

Indian Rupee hits yet another low against US dollar
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NEW DELHI - The Indian rupee tumbled 26 paise to end at a near two-week low of 72.91 against the US dollar Monday amid a strengthening greenback and steady capital outflows.

Higher US Treasury yields, which rose above the 3% mark, boosted the appeal for the dollar, analysts said.

The dollar rose to near 1-month highs against global currencies.

Meanwhile, the local unit opened at 72.61, marginally higher as compared to its Friday's close of 72.65.

It touched a low of 72.95 on strong dollar demand, before recovering to 72.60.

The rupee finally closed at 72.91, down 26 paise.

New Delhi