Rupee falls 20 paise to 93.73 against US dollar

MUMBAI: (Mar 24) The rupee fell 20 paise to 93.73 against the US dollar in early trade on Tuesday as the greenback strengthened and global crude oil prices kept rising even after US President Donald Trump signalled that negotiations were underway with Iran.

Trump on Monday said the US was talking with a “respected” Iranian leader and claimed the Islamic Republic was eager for a deal to end the war. He also extended a deadline for Iran to reopen the crucial Strait of Hormuz or face attacks on its power plants, saying it has an additional five days.

However, Iran’s denial of Trump’s claims created uncertainty, pushing up global crude oil prices.