Currency Buzz: INR Pares Initial Gains To Settle Lower

The Indian rupee gave up initial gains to settle lower by 3 paise at 81.71 (provisional) against the US dollar on Tuesday. Rising crude oil prices in the international market weighed on forex market sentiment. However, a firm trend in domestic equities and a weak American currency overseas capped the losses in the local unit. At the interbank foreign exchange market, the local unit opened strong at 81.58 but later slipped into the negative territory. During the session, it touched an intra-day high of 81.57 and a low of 81.74 against the greenback.Powered by Commodity Insights