Rupee falls 6 paise to 83.39 against US dollar
Mumbai: The rupee depreciated 6 paise to settle at 83.39 against the US dollar on Thursday due to a strengthening greenback against major rivals overseas
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Mumbai: The rupee depreciated 6 paise to settle at 83.39 against the US dollar on Thursday due to a strengthening greenback against major rivals overseas
The rupee closed at 82.8625 to the dollar, down from its previous close of 82.7675, recording its biggest single-session decline since Feb. 23.
As a result, many countries have experienced the highest interest rates. In the US, the interest rates were raised to levels not witnessed in decades
On Feb 29, the local unit settled 2 paise higher at 82.89 against the American currency
However, a rally in equity markets and robust domestic macroeconomic data supported the local currency and restricted the fall, forex traders said.