Rupee falls by 14 paise to 83.23 against U.S. dollar

On the domestic equity market front, the BSE Sensex climbed 306.55 points to settle at 65,982.48 while the broader Nifty rose by 89.75 points to close at 19,765.20.

The rupee declined by 14 paise to settle at 83.23 (provisional) against the U.S. dollar on November 16 due to foreign fund outflows and a firm greenback in the overseas markets.

Losses in crude oil prices, however, helped the rupee restrict the fall, forex dealers said.

At the interbank foreign exchange market, the rupee opened lower at 83.18 against the U.S. currency. The local unit remained under pressure in the day trade moving in a range of 83.17 to 83.25.

Also read | Rupee falls by 9 paise to 83.18 against U.S. dollar

The rupee settled at 83.23 (provisional) against the U.S. dollar, showing a loss of 14 paise over the last close.

The rupee appreciated 24 paise to close at 83.09 against the U.S. dollar on Wednesday as the American currency retreated from its elevated levels after the U.S. inflation came lower than expected.

“The rupee faced weakness as the dollar index rebounded from 103.90 to 104.30,” Jateen Trivedi, VP Research Analyst at LKP Securities, said.