Rupee falls four paise to 83.15 against U.S. dollar in early trade
The Hindu
The Rupee depreciated four paise to 83.15 against the U.S. dollar in the morning session on January 29, amid elevated crude oil prices and dollar demand from importers.
The Rupee depreciated four paise to 83.15 against the U.S. dollar in the morning session on January 29, amid elevated crude oil prices and dollar demand from importers.
Forex traders said the Rupee is trading in a narrow range as the support from positive domestic equities was negated by foreign fund outflows.
At the interbank foreign exchange, the Rupee opened at 83.14 against the dollar, then fell to 83.15, registering a decline of four paise from its previous close.
On January 25, the Rupee rose one paisa in a range-bound trade to close at 83.11 against the U.S. dollar. Forex market was closed on January 26 on account of Republic Day.
"The Rupee looks to be in a range in today's trading session as the market awaits for the U.S. Federal Reserve interest rate decision in the week," Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, said.
Meanwhile, brent crude futures, the global oil benchmark, was trading higher 0.47% at $83.94 per barrel.
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