Rupee falls 4 paise to 83.43 against dollar

Mumbai: The rupee on Tuesday consolidated in a narrow range and settled 4 paise lower at 83.43 against the US dollar, weighed down by a strong dollar and elevated crude oil prices.

Forex traders said a weak trend in domestic equities also dented investor sentiments.

At the interbank foreign exchange, the local unit opened at 83.37, then touched an intraday high of 83.34 and a low of 83.44 against the greenback.

The rupee finally settled at 83.43, a fall of 4 paise over its previous close.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.05 per cent lower at 104.96.

Meanwhile, India’s forex reserves increased by USD 140 million to touch an all-time high of USD 642.631 billion during the week ended March 22, the Reserve Bank said.