Mumbai: The rupee declined 10 paise to close at 83.48 against the US dollar on Monday, as investors remained cautious ahead of the US Federal Reserve’s monetary policy decision.
At the interbank foreign exchange market, the local unit opened weak at 83.39 and touched the intra-day low of 83.51 against the greenback during the session.
The domestic currency finally settled at 83.48 against the dollar, registering a loss of 10 paise compared to its previous closing level.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.26 per cent to 105.53.
Meanwhile, India’s forex reserves decreased $2.282 billion to $640.334 billion for the seven days ended April 19 — the second consecutive week of drop in the kitty, the RBI said on
Friday.