Rupee falls 4ps to 83.52/$
Expect the local currency to trade with a slight positive bias on softening of the US dollar and rise in global risk sentiments. Strength in the domestic markets may also support sentiments
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Mumbai: The rupee depreciated 4paise to settle at 83.52 against the US dollar on Wednesday, weighed down by elevated crude oil prices. Forex traders said the Indian rupee depreciated on strength in crude oil prices, which touched a two-week high on Tuesday. However, a firm tone in domestic markets and favourable macroeconomic data cushioned the downside. At the interbank foreign exchange market, the local unit opened at 83.51 and hit the intraday high of 83.49 and a low of 83.56 against the American currency during the session. It finally settled at 83.52 against the dollar, 4paise lower than its previous close.
On Tuesday, the rupee depreciated 4paise to settle at 83.48 against the US dollar.
