Rupee rises 3 paise to 83.97 against dollar

Mumbai: The rupee rose 3 paise to close at 83.97 against the US dollar on Tuesday, tracking a recovery in the domestic equity markets after six consecutive sessions of free fall.

A weakening dollar against international currencies further boosted the domestic unit, forex traders said, but added that a rise in crude oil prices and increased foreign fund outflows capped sharper gains.

At the interbank foreign exchange, the rupee opened at 83.97 against the greenback and traded in the range of 83.92-83.97 during the day. It settled at 83.97 against the US dollar, 3 paise higher than its Monday’s close of 84.00.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was down 0.13 per cent to 102.40.