Mumbai: The rupee depreciated 15 paise to 90.47 against the US dollar on Wednesday, after a sharp rally in the previous trading session following India-US trade deal announcement, on suspected dollar buying by corporates and importers.
Forex traders said despite the positive sentiment after the India-US trade deal, caution still remains as there is no signed or officially released trade agreement yet -- no framework text or final documentation.
At the interbank foreign exchange, the rupee opened at 90.35 and touched an early high of 90.26 and a low of 90.54 against the greenback. The domestic unit finally settled at 90.47, down by 15 paise from its previous close.