Rupee slips 36 paise against US dollar

The rupee weakened by 36 paise to 72.84 against the US dollar yesterday even as the Reserve Bank of India (RBI) announced plans to purchase government bonds worth Rs360 billion (Dh18.16 billion) to boost liquidity.

The domestic unit rupee had gained 11 paise to close at a one-week high of 72.48 against the US dollar on Friday. In recent weeks, the rupee has taken a beating amid volatility in global markets and strengthening of the greenback. The central bank has been taking various measures to shore up the rupee.