Falling for the third straight session, the rupee declined by 7 paise to 82.74 (provisional) against the US dollar on Wednesday, as intense selling pressure in domestic equities and a strong greenback overseas dented the sentiment. Forex traders said the continued inflow of foreign capital and a steep decline in crude price, however, restricted the fall in the domestic unit. On the domestic front, traders were keeping an eye on the annual GDP data to be released later in the day. At the interbank foreign exchange, the domestic unit opened weak at 82.71 against the dollar. The unit finally settled at 82.74 (provisional) against the dollar, registering a fall of 7 paise over its previous close.

Source: The Hindu May 31, 2023 22:26 UTC