Page 3 - Rupee Falls News Today : Breaking News, Live Updates & Top Stories | Vimarsana

At the interbank foreign exchange market, the rupee opened lower at 83.18 against the US currency. It moved in a tight range in morning deals.

At the interbank forex exchange, the rupee opened at 83.22 then touched 83.26 against the American currency, registering a decline of 4 paise over its previous close.

The rupee fell 2 paise to hit the lowest level of 83.15 against the US dollar in early trade on Thursday amid a strong American currency and elevated crude oil prices. Forex traders said, massive selling of equities by foreign investors in the past few sessions and subdued market sentiment also put pressure on the Indian currency.

The Rupee depreciated for the fourth straight day and settled 9 paise lower at its lifetime low of 83.22 (provisional) against the US dollar on Thursday amid a firm American currency and elevated crude oil prices.

This spelled tighter supplies in the next four months as markets expected a supply cut only up to October. Oil is the biggest import for India and any spike in oil price will widen the Current Account Deficit, Bhansali said.