Indian Rupee Depreciates Against The U.S. Dollar For First Time In Three Days
Rupee ends at 81.80, depreciating 0.46% against the U.S. dollar.
The Indian rupee depreciated against the U.S. dollar on Thursday, snapping a three-day strengthening streak that saw the currency move away from a record low.
The local currency opened at 81.64, depreciating 0.26%, or 21 paise, from its close of 81.42 on Wednesday.
During day's trade, it further fell as much as 0.60% to 81.92 intraday. It closed 0.46% lower at 81.80.
"The market is delicately poised awaiting the crucial US inflation data expected today," said VK Vijayakumar, chief investment strategist at Geojit Financial Services in a pre-market research note. "A lower-than-expected CPI number will be a trigger for a rally in markets globally. Conversely, if the inflation print is higher than expectations, that can trigger a renewed risk-off in markets."
The rupee had hit a record low of 83.29 on Oct. 20.