The rupee appreciated 7 paise to close at 82.80 (provisional) against the US dollar on Wednesday, as softening crude oil prices in the global markets boosted the local currency, reported by PTI. According to the traders, the domestic unit witnessed high volatility during the session as a strong American currency overseas and a lacklustre trend in the domestic equities dented investor sentiments.
At the interbank foreign exchange market, the local unit opened at 82.84 and touched an intra-day high of 82.80 and a low of 82.93 against the greenback. It finally settled at 82.80, registering a rise of 7 paise over its previous close of 82.87.
The rupee remained subdued for the most part of the session on Wednesday as the strong US Dollar index and sustained selling by foreign investors put downside pressure on the local unit. FIIs have remained net sellers in 7 out of…
