Rupee Falls 9 Paise To Settle At Lifetime Low Of 83.22 Against US Dollar

On Wednesday, the rupee settled 9 paise lower at 83.13 against the dollar. Earlier, the Indian currency had closed at the same level of 83.13 on August 21.

The Rupee depreciated for the fourth straight day and settled 9 paise lower at its lifetime low of 83.22 (provisional) against the US dollar on Thursday amid a firm American currency and elevated crude oil prices.

Positive trend in the domestic equity markets, however, provided a cushion to the rupee, according to forex traders.

Crude oil breached the USD 90 per barrel-mark after oil producing countries agreed to extend supply cut till December this year while dollar stayed firm on safe-haven demand.