Rupee Dips Amid Rising Crude Prices and FII Outflows

The rupee fell 9 paise to 83.53 against the US dollar due to foreign capital outflows and rising crude oil prices. Despite support from a weak US dollar and firm equity markets, investor concerns linger ahead of the RBI's monetary policy decision on Friday.

The rupee depreciated by 9 paise, closing at 83.53 against the US dollar on Thursday. This decline was driven by foreign capital outflows and increasing crude oil prices in global markets.

Forex traders indicated that despite a weak American currency and positive trends in equity markets providing some support, investor anxiety continued ahead of the RBI's monetary policy decision to be announced on Friday.

The local unit began trading at 83.40 and touched an intra-day low of 83.53 against the dollar. It settled at 83.53, reflecting a 9 paise drop from its previous close.

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