Rupee Gains 4 Paise Against US Dollar

MUMBAI: The rupee appreciated 4 paise to settle at 83.16 against the US dollar on the last trading day of 2023, helped by a weak greenback against major rivals overseas and renewed foreign capital inflows amid lower crude oil prices.

However, subdued domestic equity markets and increased month-end dollar demand from importers restricted the rise in the domestic unit, traders said.

At the interbank foreign exchange on Friday, the domestic currency opened at 83.14, touched the peak of 83.10 and hit the lowest level of 83.22 against the greenback during intra-day deals. The local unit closed the session at 83.16 against the dollar, registering a gain of 4 paise over its previous close.