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Forex markets were closed on Tuesday on account of Dussehra. Analysts attributed the strengthening dollar to a record rise in the US Treasury yields after positive data on home sales in the US on Wednesday.
Mumbai, Sep 21 (PTI) The rupee consolidated in a narrow range and settled 5 paise higher at 83.06 (provisional) against the US dollar on Thursday as crude oil price receded from its elevated level.
Mumbai, Sep 20 (PTI) Staging an impressive rebound from its lifetime low levels, the rupee surged by 24 paise to end at 83.08 (provisional) against the US dollar on Wednesday, aided by losses in global crude prices and a weak dollar ahead of the US Federal Reserve's policy decision.
The Indian rupee remained steady against the US dollar on Wednesday, despite the yuan's depreciation and other Asian currencies weakening. Predictions of inflows into Indian equities later in the session aided the rupee, as the MSCI Index was set to be rebalanced.
Rupee falls: The rupee gained 29 paise to settle at 79.45 against the dollar. Forex traders said the US dollar index witnessed an upturn after the Federal Open Market Committee (FOMC) meeting minutes showed that though things are slowing in the US, the Fed is not done with the rate hike.