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At the interbank foreign exchange, the domestic currency opened at 83.09, touched the level of 83.04 before trading at 83.06 against the greenback in initial deals, registering a rise of 9 paise from its previous close.

India Business News: The rupee started the new year on a weak note, depreciating by 6 paise to 83.22 against the US dollar amid a muted trend in domestic equities and doll

Rupee Rate: At the interbank foreign exchange, the domestic currency opened at 83.25 and traded in the range of 83.11 to 83.27 against the greenback during intra-day. The local unit finally settled at 83.16, registering a gain of 11 paise over its previous close.

The Indian currency, however, remained under pressure due to continuous upward movement in the crude oil price triggered by evolving geopolitical situation and outflow of foreign funds, forex traders said.

An upward movement in crude oil prices, however, weighed on the Indian currency, according to forex traders.

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Markets experts anticipate the expected marginal depreciation of the US dollar to drive up the prices of imported consumables that will ultimately increase the cost of living for Ugandans

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The dollar index, which gauges the greenbacks strength against a basket of six currencies, was trading 0.05 per cent lower at 105.77.

Goldman Sachs sees more gains for USD/JPY