Rupee rebounds to settle 9 paise higher at 83.31 against US dollar

Mumbai: The rupee recovered 9 paise to settle at 83.31 (provisional) against the US dollar on Thursday on the back of softening American currency as well as crude oil prices in the overseas market.

Forex traders said, however, a massive selling in the domestic equity markets, outflow of foreign fund and increased month-end demand of greenback by oil marketing companies weighed on the Indian currency.

Also Read | Rupee slips 17 paise to 71.71 against USD in early trade

At the interbank foreign exchange market, the local unit opened at 83.42 and oscillated between the intra-day high of 83.26 and lowest level of 83.44 during the session.

It finally settled at 83.31 (provisional), registering a gain of 9 paise from its previous closing level.

Also Read | Rupee rides on GDP numbers, up 6 paise in early trade

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