Rupee falls by nine paise at 83.18 per dollar in early trade

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The rupee opened at 83.18 against the dollar in the interbank foreign exchange market and continued to trade in a narrow range. The rupee had closed at 83.09 against the US dollar on Wednesday.

The rupee fell by nine paise to 83.18 against the US dollar in early trade on Thursday amid strengthening of the American currency in foreign markets. Forex traders said the rupee’s fall was limited due to buying by foreign institutional investors and fall in crude oil prices.

The rupee opened at 83.18 against the dollar in the interbank foreign exchange market and continued to trade in a narrow range. The rupee had closed at 83.09 against the US dollar on Wednesday.

Meanwhile, the dollar index, which reflects the position of the US dollar against six major currencies of the world, rose by 0.14 percent to reach 104.54. Global oil benchmark Brent crude was trading 0.91 per cent lower at $80.44 per barrel. According to stock market data, foreign institutional investors (FIIs) bought shares worth Rs 550.19 crore on Wednesday.

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