Rupee Falls 21 Paise to 94.97 Against US Dollar
The rupee fell 21 paise to 94.97 against the US dollar in early trade on Monday. Forex traders said a positive domestic market and a softening of crude oil prices limited the fall. This means each US dollar now costs slightly more rupees than before.
Context
A weaker rupee makes imports such as crude oil, electronics and fuel more expensive, and it raises costs for students and families studying or travelling abroad. Crude oil prices matter most, since India buys most of its oil from other countries.
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