Rupee falls seven paise to 83.38 against U.S. dollar in early trade
The HinduThe Rupee depreciated seven paise to 83.38 against the U.S. dollar in early trade on April 12, weighed down by a negative trend in domestic equities and elevated crude oil prices. At the interbank foreign exchange, the Rupee opened at 83.36 against the dollar and touched a low of 83.38 in the initial trade, registering a fall of seven paise over its previous close. "Brent oil continued to remain in the higher side of the curve on Middle East jitters as Iran promised to retaliate for a suspected air strike on its embassy in Syria which could risk disruptions of shipments from the Region," said Anil Kumar Bhansali Head of Treasury and Executive Director Finrex Treasury Advisors LLP. "As RBI may protect it from depreciation beyond 83.40 exporters may sell at this level for all near term exports," he said.