Indian rupee drops against UAE dirham in early trade amid elevated crude oil prices

Forex traders say the currency is trading in a narrow range as the support from positive domestic equities was negated by foreign fund outflows

By PTI

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Photo: Reuters file
Photo: Reuters file

Published: Mon 29 Jan 2024, 8:55 AM

The Indian rupee depreciated 4 paise to 83.15 against the US dollar (23.1 against UAE dirham) in the morning session on Monday, amid elevated crude oil prices and dollar demand from importers.

Forex traders said the rupee is trading in a narrow range as the support from positive domestic equities was negated by foreign fund outflows.

At the interbank foreign exchange, the rupee opened at 83.14 against the dollar, then fell to 83.15, registering a decline of 4 paise from its previous close.

[Editor's Note: For real-time forex rates, click on the widget below or visit Khaleej Times' dedicated Trading News page here.]

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