The rupee consolidated in a narrow range and settled 1 paisa lower at 83.38 (provisional) against the US dollar on Tuesday, as investors remained cautious ahead of the release of domestic inflation data and the upcoming US Fed meeting.
Besides, selling pressure in the domestic equity markets dented market sentiment, forex traders said.
However, the American currency’s weakness against major currencies overseas restricted the loss in the local currency, they added.
At the interbank foreign exchange market, the local unit opened at 83.36 and settled at 83.38 (provisional) against the greenback, registering a loss of 1 paisa from its previous close.
In intra-day trade, the rupee touched a high of 83.35 and a low of 83.39.
On Monday, the domestic currency settled at 83.37 against the US dollar.
Investors remained concerned over domestic inflation data as well as industrial production…
