Rupee slips 13 paise to close at 72.96

Mumbai The Indian rupee fell by 13 paise to close at 72.96 against the US currency on Monday, as investors appeared unsure amid lack of cues on the domestic and global front. At the interbank forex market, the local unit opened weak at 72.88 against the greenback and traded in the range of 72.98-72.86 during the session. The rupee finally ended at 72.96 against the American currency, registering a fall of 13 paise over its previous close.

"Rupee consolidated in a narrow range and traded with low volatility following lack of cues on the domestic as well as global front. Market participants are cautious ahead of the advance GDP number that will be released from the US. Better-than-expected growth number could support the dollar at lower levels," Gaurang Somaiyaa, Forex & Bullion Analyst, Motilal Oswal Financial Services, said. Brent crude futures, the global oil benchmark, surged 1.90 per cent to $67.70 per barrel. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.15 per cent to 89.87.