Indian Rupee Weakens Against The U.S. Dollar

Intraday, the rupee weakened as much as 28 paise to 81.89 against the greenback. At close, the rupee weakened 0.2% to 81.77.

Rishabh Bhatnagar @Rish_Bhat

9:09 AM IST, 17 Jan 20239:09 AM IST, 17 Jan 20239:09 AM IST, 17 Jan 20239:09 AM IST, 17 Jan 2023

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Indian rupee notes. (Photo: Vijay Sartape/BQ Prime)

The Indian rupee depreciated against the U.S. dollar on Tuesday.

The local currency weakened 0.2% to 81.78 against the greenback, 16 paise lower than Monday's close of 81.62.

Intraday, the rupee weakened as much as 28 paise to 81.89 against the greenback.

At close, the rupee weakened 0.2% to 81.77.

"The U.S. dollar rebounded and closed above the 102 mark on a thin trading day as U.S. markets were closed on Monday. The broader trend seems to be weaker as expectations of a smaller size rate hike in the coming policy meeting have improved following a decline in inflation numbers. Now the major focus shifts towards the BoJ’s policy, which is due on Wednesday," ICICIDirect.com said in a daily currency strategy note.