Rupee slumps 87 paise to close at 73.38 against US dollar

Mumbai:  The rupee slumped by 87 paise to close at 73.38 (provisional) against the US currency on Tuesday as rising crude oil prices and a strong American currency weighed on investor sentiment.
At the interbank forex market, the local unit opened at 72.85 against the greenback and traded in the range of 72.77-73.47 during the day.
The rupee finally ended at 73.38 against the American currency, registering a fall of 87 paise over its previous closing.
On Friday, the rupee had settled at 72.51 against the American currency.
The forex market was closed on Monday on account of Holi.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, advanced 0.20 per cent to 93.12.