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Rupee declines by 8 paise on rebound in crude oil, greenback
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rupee declined by 8 paise to settle at 82.71 (provisional) against the US currency on Tuesday due to a rebound in crude oil prices and greenback in the global markets. Foreign fund outflows from the equity markets also weighed on the rupee sentiment, forex dealers said.
At the interbank foreign exchange, the domestic unit opened higher at 82.58 amid overnight losses in the US dollar against major global rivals.
Volatile equity markets and recovery in crude oil prices during the day hit the rupee sentiment, dragging the unit to a day's low of 82.73.
The rupee settled lower by 8 paise at 82.71 against the US dollar.
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