Rupee declines by 17 paise to close at 82.80
August 29, 2023 23:58
The rupee declined by 17 paise to settle at 82.80 against the United States currency on Tuesday due to a rebound in crude oil prices and greenback in the global markets.
Foreign fund outflows from the equity markets also weighed on the rupee sentiment, forex dealers said.
At the interbank foreign exchange, the domestic unit opened higher at 82.58 amid overnight losses in the US dollar against major global rivals.
Volatile equity markets and recovery in crude oil prices during the day hit the rupee sentiment, dragging the unit to a day's low of 82.80.
The rupee finally settled lower by 17 paise at the day's low of 82.80 against the US dollar.
On Monday, the rupee edged up by 1 paisa to settle at 82.63.
"Rupee opened on a flat note but fell in the intraday session following broad strength in the dollar against its major crosses," Gaurang Somaiya, forex and bullion analyst at Motilal Oswal Financial Services, said. -- PTI
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