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Rupee tanks 13 paise to 83.42 against dollar amid unabated outflow of foreign funds
Millennium Post Delhi
|June 01, 2024
‘USD-INR spot price is expected to trade in a range of Rs 83.10 to Rs 83.70’
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The rupee paired all its early gains and settled with a steep loss of 13 paise at 83.42 against the US dollar on Friday amid volatile domestic equity markets and unabated outflow of foreign funds.
Forex traders said increased month-end demand of greenback by oil marketing companies also weighed on the Indian currency even as it found some support due to lower level of crude oil prices.
At the interbank foreign exchange market, the local unit opened at 83.25 and oscillated between the intra-day high of 83.23 and lowest level of 83.49 during the session.
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