MUMBAI, Sep 30: The rupee fell 4 paise to an all-time low of 88.79 (provisional) against the US dollar on Tuesday, pressured by sustained foreign capital outflows amid global trade uncertainties.
However, a steep fall in global crude oil prices, along with a weaker greenback, prevented a sharp decline in the local unit, according to forex traders.
The markets are also awaiting the Reserve Bank of India’s (RBI’s) Monetary Policy Committee decision, which will be announced on Wednesday.
At the interbank foreign exchange, the rupee opened at 88.73 against the dollar and traded in the range of 88.69-88.80 before settling at 88.79 (provisional), lower by 4 paise against its previous close.The rupee consolidated in a narrow range and settled lower by 3 paise at 88.75 against the greenback on Monday.The range for Wednesday is expected between 88.50 and 89.00, he said.The RBI meeting is taking place against the backdrop of ongoing geopolitical tensions and the US imposing 50 per cent tariffs on Indian shipments.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 97.79, lower by 0.11 per cent. (PTI)
