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Rupee Weakens Slightly Against the US Dollar Due to External Factors

In a day of limited trade, the Indian rupee fell 3 paise to 83.15 against the US dollar.

The Indian rupee dipped by 3 paise to reach 83.15 against the US dollar in a day of limited trading. A stronger US dollar influenced the dip in international markets and foreign capital outflows.

Factors Behind the Rupee’s Performance:

Several factors contributed to the rupee’s slight decline. While the correction in crude oil prices and a robust start in the domestic stock markets helped limit the rupee’s losses, external influences, including the strength of the US dollar, played a role.

The local currency commenced trading by opening at 83.15 against the US dollar at the interbank foreign exchange market, marking a minor decrease of 3 paise.

Global Economic Factors:

The state of global financial markets also played a significant role in influencing the rupee’s performance. 

Asian shares touched one-year lows on Monday as concerns over a broader Middle East conflict impacted market sentiment. This week is expected to be eventful, with significant data releases related.

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