Rupee falls 7ps to 83.92/$

Mumbai: The rupee declined 7paise to close at 83.92 against the greenback on Monday on disappointing domestic macroeconomic data. However, positive domestic markets, wherein both the benchmark indices scaled lifetime high levels and foreign fund inflows cushioned the downside. Moreover, easing crude oil prices and weakness of the American currency in the overseas market supported the local unit and restricted further slide. At the interbank foreign exchange market, the local unit opened 2 paise lower at 83.87 against the American currency. It rose to the intra-day high of 83.85 but pared gains and slipped to the day’s low of 83.93 before settling at 83.92 against the US dollar, registering a decline of 7paise over its previous close.

“Indian rupee depreciated by 7paise on Monday on positive US Dollar and disappointing macroeconomic data,” said Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas.