Rupee depreciates 6 paise to 83.13 against US dollar in early trade

The rupee depreciated 6 paise to 83.13 against the US dollar in the morning session, amid elevated crude oil prices and dollar demand from importers. Forex traders said the rupee is trading in a narrow range as the support from positive domestic equities was negated by foreign fund outflows. At the interbank foreign exchange, the rupee opened at 83.11 against the dollar, then fell to 83.13, registering a fall of 6 paise from its previous close. In the initial trade, the rupee also touched an early high of 83.09 against the US dollar. On Friday, the rupee settled at 83.07 against the US dollar. Meanwhile, Brent crude futures, the global oil benchmark, was trading lower by 0.03 per cent to USD 80.04 per barrel. "Brent oil crossed USD 80 per barrel after strong gains on supply concerns due to disruptions in the US and Russia triggered strong gains while caution before central bank meetings also kept prices muted," said Anil Kumar Bhansali, Head of Treasury and Executive Director Fin Read The Rest at :