Rupee falls 11ps to 83.45/$
USD-INR spot price is expected to trade in a range of Rs83.10 to Rs83.70
image for illustrative purpose
Mumbai: The rupee depreciated 11paise to settle at 83.45 against the US dollar on Monday, tracking rising crude oil prices in international markets. However, a firm trend in domestic equity markets, positive manufacturing PMI data and a weak US dollar against major currencies overseas capped the sharp fall, forex traders said.
At the interbank foreign exchange market, the local unit opened at 83.39 and moved between the high of 83.38 and the low of 83.47 against the greenback during the session. The unit finally settled at 83.45 against the dollar, registering a loss of 11 paise from its previous closing level.
On Friday, the rupee settled 11paise higher at 83.34 against the US dollar. Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, said the rupee depreciated on a surge in US treasury yields and rising crude oil prices. Oil prices were hovering at nearly two-month high levels while the US bond yields above 4 per cent pressurised Asian currencies.
