The rupee closed weaker at 62.34 against the dollar on Wednesday hurt by demand for the American currency from oil importers. The rupee had closed at 62.16 on Monday.
The currency markets were closed on Tuesday for a national holiday. The Indian unit’s movement during the day mirrored that of its Asian peers, which were seen trading weaker against the American currency.
Suresh Nair, Director, Admisi Forex, said, “The rupee depreciated to near a week’s low on Wednesday against the US dollar, tracking most of its Asian peers, on caution ahead of the Federal Reserve’s January policy meeting minutes.”
Source:thehindubusinessline.com
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