Indian Rupee Depreciates Against U.S. Dollar

The rupee depreciated to 82.76 after opening at 82.70, compared with Monday's close of 82.74.

<div class="paragraphs"><p>Indian currency. (Photo: Usha Kunji/BQ Prime)</p></div>
Indian currency. (Photo: Usha Kunji/BQ Prime)

The Indian rupee depreciated after opening strong against the U.S. dollar on Tuesday.

The local currency opened at 82.70 against the U.S. dollar, appreciating 4 paise against Monday's close of 82.74. It had strengthened as much as 0.1%, or 8 paise, to 82.66 apiece, according to Bloomberg data.

However, the rupee slipped into losses soon after opening and depreciated as much as 0.24% or 20 paise intraday to 82.94.

It ended day's trade at 82.88, about 0.17% lower.