Mumbai: The rupee pared initial gains and settled for the day lower by 8 paise at 89.71 against the US dollar on Wednesday, fuelled by persistent capital withdrawals from foreign investors, alongside heightened greenback demand from bullion importers.
At the interbank foreign exchange, the rupee opened at 89.56 against the US dollar, then touched an intra-day high of 89.51, registering a 12-paise gain from its previous close.
At the end of the trading session on Wednesday, the rupee pared its initial gains and settled at 89.71, down 8 paise from its previous close. On Tuesday, the rupee settled at 89.63 against the dollar. MPOST