Rupee declines 16 paise to settle at 86.56 against US dollar

Thu, 16 January 2025

20:07

The rupee depreciated 16 paise to close at 86.56 (provisional) against the US dollar on Thursday, dragged down by a strong American currency overseas, elevated crude oil prices and foreign fund outflows.

However, positive domestic equity markets provided some cushion at the lower level, forex traders said.

At the interbank foreign exchange, the rupee opened at 86.42 and touched the intraday high of 86.37 before ending the session at 86.56 (provisional) against the greenback, 16 paise lower from the previous close.

The local unit settled with a gain of 13 paise at 86.40 against the dollar on Wednesday, a day after rebounding 17 paise from its lowest-ever level.

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