Rupee falls 10 paise to close at 82.40 against US dollar on forex outflows

The rupee pared its initial gains to close 10 paise down at 82.40 against the US dollar in a restricted trade on Tuesday.

At the interbank forex market, the local unit opened at 82.21 against the greenback. It witnessed an intra-day high of 82.02 and a low of 82.40 against the American currency during the session.

It finally ended at 82.40 against the US dollar, down 10 paise from its previous close of 82.30.

The dollar index, which measures the greenback's strength against a basket of six currencies, rose 0.18 per cent to 112.24. Brent crude futures, the global oil benchmark, fell 0.27 per cent to USD 91.37 per barrel.

"Rupee continued to consolidate in a narrow range in the last few sessions despite volatility in major crosses. Reaction on the rupee remained muted even as the dollar fell marginally against its major crosses," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.

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