Rupee slips 5 paise in early trade
The Hindu
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The rupee depreciated 5 paise to 83.26 against the US dollar in the morning session on Tuesday, November 7, 2023, tracking a strong American currency overseas and sustained foreign fund outflows.
Forex traders said a negative trend in domestic equities also weighed on the local unit.
At the interbank foreign exchange, the rupee opened at 83.23, then touched 83.26 against the American currency, registering a decline of 5 paise over its previous close.
On Monday, the rupee had settled at 83.21 against the US dollar.
Forex traders said the rupee is expected to witness range-bound trade as investors resorted to dollar buying on account of demand from FPIs, oil and external commercial borrowing (ECB) redemptions.
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