Rupee falls 4 paise to 82.90 against dollar

Mumbai: The rupee declined by 4 paise to settle at 82.90 against the US currency on Monday on firm crude oil prices.

Gains in domestic stock markets and foreign fund inflows capped the rupee’s losses, analysts said.

The local unit opened firm at 82.84 to a dollar at the interbank foreign exchange market and inched up to the day’s high of 82.83 in early deals.

However, the rupee dropped to a low of 82.91 before settling at 82.90, down by 4 paise over the previous close.

The US dollar index, which measures the greenback’s strength against a basket of six currencies, was almost flat at 103.40.

Brent Crude, the global oil benchmark, gained nearly 1 per cent to trade above the $86-level in global markets. Worries over rising global crude oil prices may also weigh on the

rupee.