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Mumbai The rupee depreciated by four paise to 82.67 against the US dollar in early trade on Tuesday due to a stronger dollar overseas.
Forex traders said fall in crude oil prices and buying by foreign funds limited the rupee’s losses.
Meanwhile, the dollar strengthened on a tentative deal on the debt ceiling between US President Joe Biden and US Congress Speaker Kevin McCarthy. The deal is expected to be voted on on Wednesday.
The rupee opened flat at 82.63 against the dollar at the interbank foreign exchange market and then declined further to hit a low of 82.69. It later traded at 82.67, down four paise over its previous closing price. The rupee had closed at 82.63 against the American currency on Monday.
Meanwhile, the dollar index, which reflects the US dollar’s position against six currencies, rose 0.09 per cent to 104.30. Global oil benchmark Brent crude futures were down 0.61 per cent at USD 76.60 a barrel.
Pc:The Hindu
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