2020.01.2010:56:00UTC+00Indian Rupee Declines To 10-day Low Against U.S. Dollar

The Indian rupee fell against the U.S. dollar in evening deals on Monday, as regional shares fell on higher oil prices.

The benchmark S&P BSE Sensex tumbled 416.46 points, or 0.99 percent, to 41,528.91, while the broader NSE Nifty index ended down 121.60 points, or 0.98 percent, at 12,230.75.

Oil prices surged up on news of a blockage of oil exports at Libya's ports.

Two large crude production bases in Libya began shutting down amid a military blockade, potentially reducing national output to a fraction of its normal level.

The Indian rupee declined to a 10-day low of 71.11 against the greenback from Friday's closing value of 70.99. If the rupee slides further, 72.00 is likely seen as its next support level.