Rupee rises 9 paise to close at 81.58 against U.S. dollar

Mumbai The rupee consolidated in a narrow range and settled 9 paise higher at 81.58 (provisional) ag

The rupee consolidated in a narrow range and settled 9 paise higher at 81.58 (provisional) against the U.S. dollar on September 27 as the American currency retreated from its elevated levels.

At the interbank Forex market, the local unit opened at 81.45 against the greenback. It witnessed an intra-day high of 81.30 and a low of 81.64 during the session.

It finally ended at 81.58, up 9 paise from its previous close.

This is the first gain after four consequent sessions of losses for the rupee, during which it lost 193 paise against the American dollar.

On Monday, the rupee plunged 58 paise to close at an all-time low of 81.67 against the dollar.

“Rupee consolidated in a narrow range after falling to fresh lows in Monday’s session. There are some reports suggesting that India’s inclusion into the key government bond index could get pushed back to next year,” Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services, said.

On the domestic front, the focus will be on the RBI policy statement due on Friday.