Rupee falls 4 paise to close at 83.14 against US dollar

Mumbai: The rupee pared its initial gains and settled for the day lower by 4 paise at 83.14 (provisional) against the US dollar on Monday, mirroring the benchmark indices that erased their gains and ended the day off their record-high levels.

Also Read | Rupee builds on surge, up 9 paise against dollar

Forex traders said the rupee settled in a narrow range as the weakness of the American currency in the overseas market supported the rupee, while elevated crude oil prices in the international market restricted the upmove.

Also Read | Rupee gains 4 paise in early trade

At the interbank foreign exchange, the local unit opened at 83.08, then touched an intra-day high of 83.05 but soon pared the gains and settled for the day lower by 4 paise at 83.14 (provisional) against the American currency.

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• #Settled
• #Pared