Forex markets were closed on Tuesday on account of Dussehra. Analysts attributed the strengthening dollar to a record rise in the US Treasury yields after positive data on home sales in the US on Wednesday.
The rupee continued its downward trend for the third consecutive session to close 6 paise lower at 83.23 (provisional) against the US dollar on Thursday, dragged down by massive selling in equity markets and strengthening American currency overseas. Withdrawal of foreign funds and elevated crude oil prices touching USD 90 a barrel also weighed on the domestic currency, forex traders said.
At the interbank foreign exchange market, the local unit opened weak at 83.19 and traded between the peak of 83.18 and the lowest level of 83.24 against the greenback. It finally settled at 83.23 (provisional) against the dollar,…
