"rupee"

Forex dealers noted that despite FII inflows and ongoing losses in crude oil prices, they helped prevent a further decline in the rupee.

Rupee started strong against the US dollar as American currency weakened due to easing US inflation, noted forex traders.

Orders dried up as a result of this, they said, adding that this created a heightened uncertainty in the forex market, causing excess volatility in the Indian rupee, which was avoidable.

At the interbank foreign exchange, the rupee opened at 83.28, higher by 1 paisa from its previous close.

At the interbank foreign exchange, the rupee opened at 83.25, higher by 5 paise over its previous close.

Forex traders said sustained foreign fund outflows also dented investor sentiments.

Forex traders said the rupee rose after the American currency dropped from its elevated levels, following a slower-than-expected US job growth in October.

Forex traders said a positive trend in domestic equities supported the local unit at lower levels and restricted the downside.

A weak US dollar overseas and positive domestic equities supported the local unit in early trade, forex traders said.

Forex traders said the dollar strengthened on safe-haven demand. However, a positive trend in domestic equities supported the rupee at lower levels

Forex traders said the rupee is trading in a narrow range as sustained foreign fund outflows and strength of the American currency in the overseas market weighed on investor sentiments.

An upward trend in the crude oil prices and selling pressure from foreign equity investors continued to weigh on the Indian currency, forex traders said.

The rupee stayed on downward track for the third consecutive session and depreciated by 6 paise to 83.23 against the US dollar

Some buying by foreign equity investors supported the Indian currency even though it was pressured by a subdued sentiment in the domestic equity markets, forex traders said.

A correction in crude oil prices and firm domestic stock markets in opening trade capped the losses of the rupee, according to forex dealers.

Negative equity market sentiment and a strong dollar also weighed on the Indian currency, forex traders said

Forex traders said the rupee is trading in a narrow range as sustained foreign fund outflows and strength of the American currency in the overseas market weighed on investor sentiments.

Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, said the rupee declined amid weak domestic markets and a jump in crude oil prices.

Forex traders said surging crude oil prices and negative trend in equity markets, however, capped the rise in the domestic currency.

Brent crude futures, the global oil benchmark, advanced 0.41 per cent to USD 90.02 per barrel.