NEW DELHI – The Indian rupee tumbled 26 paise to end at a near two-week lowof 72.91 against the US dollar Monday amid a strengthening greenback andsteady capital outflows.
Higher US Treasury yields, which rose above the 3% mark, boosted the appealfor 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 toits Friday’s close of 72.65.
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It touched a low of 72.95 on strong dollar demand, before recovering to72.60.
The rupee finally closed at 72.91, down 26 paise.
