MUMBAI, Nov 20: The Indian rupee fell 20 paise to close at 88.68 against the US dollar on Thursday, pressured by a stronger dollar and lower chances of a US Federal Reserve rate cut in December.
The rupee opened at 88.63, touched an intra-day low of 88.74, and a high of 88.62 during trading.
Analysts said continued dollar demand from importers could keep the rupee under pressure, though factors such as rising global risk appetite and optimism over India-US trade negotiations may support the currency at lower levels.
Domestic equities saw strong gains, with the Sensex surging 446.21 points to 85,632.68 and the Nifty rising 139.50 points to 26,192.15, aided by net foreign inflows of Rs 283.65 crore.
Brent crude futures rose 0.71% to USD 63.96 per barrel. Experts expect the rupee to trade in a range of 88.40–89, with movements also influenced by upcoming US economic data and potential RBI interventions. (PTI)
