The Indian rupee weakened against the dollar, tracking the strong rebound in the greenback following better than expected U.S. GDP numbers.
The local currency weakened 32 paise to close at Rs 82.26. During intraday trade, it weakened 41 paise to trade at Rs 82.35—the lowest since July 11, when it was at Rs 82.44—against the U.S dollar, according to Bloomberg data.
In terms of a single-day move, the rupee weakened the most during intraday since Feb. 6, when it fell by 91 paise.
It closed at Rs 81.94 on Thursday.
Reliance Securities expected the rupee to open around Rs 82.2200–82.2500 against the U.S. dollar. The trading range for the day is between Rs 81.8000 and 82.4500, the brokerage said.
"Offshore markets are indicting a weak opening, but after opening weaker, we can expect the USD-INR pair to run into good offers," it said in a note.
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