Rupee rebounds 14 paise to 83.20 against US dollar

December 28, 2023 20:48

The rupee rebounded after two straight days of fall to settle 14 paise higher at 83.20 against the US dollar on Thursday, amid a weak American currency overseas and a rally in domestic equity markets.

The inflow of foreign funds and a downward trend in crude oil prices also supported the Indian currency, forex traders said.

At the interbank foreign exchange, the domestic currency opened at 83.33 and traded in a range of 83.16-83.34 against the greenback.

The local unit finally settled at 83.20, registering a gain of 14 paise over its previous close.

The rupee had lost 18 paise in the previous two sessions.

On Wednesday, the domestic currency settled 15 paise lower at 83.34 against the dollar, a day after closing at a loss of 3 paise. -- PTI

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