Rupee rises 7 paise to 83.37 against dollar

Mumbai: The rupee rises by 7 paise to close at 83.37 against the US dollar on Monday on positive domestic markets and a soft American currency.

Forex traders said a decline in crude oil prices also supported the local unit.

At the interbank foreign exchange market, the local unit opened at 83.40 against the greenback.

The unit hit an intra-day high of 83.32 and a low of 83.45 against theAmerican currency.

The domestic unit finally settled at 83.37 against the dollar, 7 paise higher from its previous close.

On Friday, the rupee appreciated by 8 paise to close at 83.44 against the US dollar.