The rupee settled for the day lower by 10 paise at 83.50 against the US dollar on Monday, following a rising American currency in overseas markets and a sluggish trend in domestic equities.
Forex traders said the downside in the rupee was restricted by easing political uncertainties as Narendra Modi was sworn in as Prime Minister on Sunday for a record-equalling third term.
At the interbank foreign exchange, the local unit opened at 83.48 and settled for the day lower by 10 paise at 83.50 against the American currency.
Copyright © 2017 Indian Grapevine a unit of Integrated Media Enterprises
