The Rupee eased slightly against the US dollar on Thursday as investors remained cautious ahead of US inflation data that is likely to come in and make the Federal Reserve deliver a large rate hike.
The Rupee ended at 82.3450 compared with its previous close of 82.3150, after trading in a narrow range through the session.
The currency has ended at around 82.32 for the past four sessions due to the Reserve Bank of India’s intervention through Thursday. Experts believe that the Rupee had found its range for now after striking a new low of 82.6825 on Monday.
The Rupee has weakened nearly 11 per cent so far this year while India’s imports have outpaced its exports by a wide margin.
