Rupee falls 3 paise to close at 83.23 against US dollar
The rupee depreciated 3 paise to settle at 83.23 (provisional) against the US dollar on Wednesday, as a muted trend in domestic equities and sustained foreign fund outflows weighed on investor sentiments.Forex traders said the strength of the American currency in the overseas market further dented investor sentiments.
At the interbank foreign exchange market, the local unit opened at 83.22 against the US dollar and moved in a range of 83.27 to 83.19.The rupee finally settled at 83.23 (provisional) against the US dollar, down 3 paise from its previous close.On Tuesday, the rupee had settled at 83.20 against the dollar.”The Indian rupee declined on weak domestic markets and further selling by FIIs. However, softening of US dollar cushioned the downside,” said Anuj …