Rupee falls 3 paise to close at 83.14 against U.S. dollar
The Hindu
The Indian rupee depreciated against the US dollar due to rising crude oil prices and dollar demand from importers.
The rupee depreciated 3 paise to 83.14 (provisional) against the U.S. dollar on January 29, as rising crude oil prices in international markets and dollar demand from importers dented investor sentiments.
Forex traders said the rupee traded in a narrow range as the support from positive domestic equities was offset by persistent foreign fund outflows.
At the interbank foreign exchange market, the local unit opened at 83.14 against the U.S. dollar. During the day, it witnessed an intraday high of 83.13 and a low of 83.15 against the American currency.
The local unit finally settled at 83.14 (provisional) against the dollar, down by 3 paise from its previous close.
On Thursday, the rupee rose 1 paisa in a range-bound trade to close at 83.11 against the U.S. dollar.
Forex market was closed on Friday on account of Republic Day.
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