MUMBAI, Nov 27: The Indian rupee declined 14 paise to settle at 89.36 against the US dollar on Thursday, pressured by a firm greenback driven by higher demand from importers and banks for month-end trade settlements.
The rupee opened at 89.19, touched an intraday low of 89.40, and closed weaker compared to Wednesday’s flat finish at 89.22. Analysts noted that lower crude oil prices offered some support to the local currency, with Brent crude falling slightly to USD 63.11 per barrel.
Jateen Trivedi of LKP Securities said the rupee traded weak within a sideways range, supported partially by possible FII inflows and strong secondary markets, expecting the currency to stay between 88.75-89.55. The dollar index rose 0.11% to 99.63, reflecting global greenback strength.
On the domestic equity front, the Sensex gained 110.87 points to 85,720.38, and the Nifty rose 10.25 points to 26,215.55, despite foreign institutional investors selling equities worth Rs 1,255.20 crore on a net basis. (PTI)
