Rupee declines 12 paise to close at 83.02 against US dollar



The rupee depreciated 12 paise to 83.02 (provisional) against the US dollar on Tuesday, weighed down by a heavy selloff in domestic equities and persistent foreign capital outflows. Besides, a surging greenback against major crosses overseas also pulled down the other local currency, forex traders said.

At the interbank foreign exchange market, the local unit opened at 82.94 and touched the intra-day low of 83.05 and a high of 82.93. It finally settled at 83.02 (provisional) against the dollar, registering a loss of 12 paise from its previous close.