Mumbai: The rupee consolidated in a narrow range and settled higher by 1 paisa at 83.51 against the US dollar on Tuesday, amid a negative trend in domestic equities and strong dollar demand.
Forex traders said elevated significant foreign fund outflows in the international market dented investors’ sentiments.
At the interbank foreign exchange market, the local unit opened at 83.48 against the greenback. The unit hit an intra-day high of 83.47 and a low of 83.52 against the greenback.
The domestic unit finally settled at 83.51 against the dollar, 1 paisa higher than its previous close.
On Monday, the rupee settled 7 paise lower at 83.52 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was at 105.26, higher by 0.20 per cent.
Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday, as they offloaded shares worth Rs 2,168.75 crore, according to
exchange data.