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Rupee falls 3 paise to close at 83.37 against US dollar
The Indian rupee depreciated on Friday due to demand for dollars from importers and a weak tone in Asian currencies. However, a decline in crude oil prices and a softness in the US Dollar provided some cushioning. Traders expect the rupee to trade with a slight negative bias due to weak global markets and expectations of a recovery in the US Dollar index. IPO-driven Dollar inflows and a weak tone in crude oil prices may support the local currency. The dollar index was trading lower at 103.73 and Brent crude futures rose to USD 81.65 per barrel.
The Indian rupee depreciated on Friday due to demand for dollars from importers and a weak tone in Asian currencies. However, a decline in crude oil prices and a softness in the US Dollar provided some cushioning. Traders expect the rupee to trade with a slight negative bias due to weak global markets and expectations of a recovery in the US Dollar index. IPO-driven Dollar inflows and a weak tone in crude oil prices may support the local currency. The dollar index was trading lower at 103.73 and Brent crude futures rose to USD 81.65 per barrel. 
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