Currency | Rupee settles flat at 83.20 against US dollar
At the interbank foreign exchange, the domestic currency touched the peak of 83.10 and hit the lowest level of 83.22 against the greenback during intra-day deals
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At the interbank foreign exchange, the domestic currency touched the peak of 83.10 and hit the lowest level of 83.22 against the greenback during intra-day deals
Non-deliverable forwards indicate the rupee will open at around 83.26-83.28 to the U.S. dollar, compared with 83.3450 in the previous session. USD/INR had its best day in nearly three months on Wednesday, likely related to monthly currency futures-linked dollar demand, traders said.
On December 27, the domestic unit settled at 83.34 against the American currency
Both Russia and Iran have been reducing their reliance on the dollar since the US leveraged its currency's dominance to impose economic sanctions on both countries.
The domestic currency had lost 18 paise in the previous two sessions