Rupee opened 7 paise weaker at Rs 86.64 (provisional) against the greenback on Wednesday.
On Tuesday, the rupee strengthened for the third straight session, rising 25 paise to close at 86.56. This was supported by strong domestic stock markets and a weaker US dollar due to disappointing US economic data.
In the interbank foreign exchange market, the rupee was highly volatile, opening at 86.71, reaching an intraday high of 86.54, and touching a low of 86.78. Forex traders said the rupee gained due to a weaker US dollar index and strong Asian currencies, but rising crude oil prices capped further gains.
On Monday, the rupee had gained 24 paise to close at 86.81, while last Thursday, it had risen by 17 paise to end at 87.05.
(This is a developing story…..)
