money
Guwahati, August 8: The rupee depreciated 9 paise to settle at 82.84 (provisional) against the US dollar on Tuesday weighed down by safe-haven dollar demand and a muted trend in domestic equities.
At the interbank foreign exchange, the domestic unit opened at 82.80 against the dollar and finally ended the day at 82.84 (provisional), registering a fall of 9 paise from its previous close.
During the session, the local unit touched a peak of 82.78 and hit the lowest level of 82.85. On Monday, the rupee had settled at 82.75 against the dollar.
The US dollar gained on safe-haven demand on risk aversion in global markets and hawkish Fedspeak.
US Federal Reserve official Michele Bowman reportedly said additional rate hikes will likely be needed to bring inflation to its target of 2 per cent, Choudhary added.