Indian Rupee Weakens Against US Dollar

The Indian rupee closed weaker against the US dollar on Thursday, even as the fall in the dollar index was offset by a rise in crude oil prices.

The local currency weakened by 10 paise to close at Rs 83.47 against the greenback, according to Bloomberg data. It had opened at Rs 83.42 on Thursday and closed at Rs 83.37 on Wednesday.

The range for the local legal tender now looks to be broadly between 83 to 83.50, Finrex Treasury's Treasury Head Anil Kumar Bhansali said.

The dollar index fell by 0.16% to 104.22, while Brent oil price rose 0.37% to $78.70. The US 10-year Treasury bond yields were at 4.29%.