RUPEE FALLS 4 PAISE TO SETTLE AT 82.90 AGAINST DOLLAR ON FIRM CRUDE OIL PRICES

The rupee declined by 4 paise to settle at 82.90 (provisional) against the US currency on Monday on firm crude oil prices. Gains in domestic stock markets and foreign fund inflows capped the rupee's losses, analysts said. The local unit opened firm at 82.84 to a dollar at the interbank foreign exchange market and inched up to the day's high of 82.83 in early deals.

However, the rupee gave up early gains as the US dollar and bond yields remained at higher levels ahead of the Federal Reserve's meeting this week. The rupee dropped to a low of 82.91 before settling at 82.90, down by 4 paise over the previous close. On Friday, the rupee had settled at 82.86.

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