The Indian rupee continued its downward trend for the third consecutive session, depreciating by 6 paise to 83.23 against the US dollar in early trade. The fall is attributed to the strength of the American currency, negative sentiment in the equity market, and substantial selling of equities by foreign investors. Geopolitical tensions in the Middle East and crude oil prices hovering around $90 a barrel also contributed to the pressure on the rupee. The dollar index, reflecting the greenback’s strength against a basket of currencies, rose by 0.20% to 106.75. The rupee had closed at 83.17 against the US dollar in the previous session.
Rupee Depreciates 6 Paise to 83.23 Against US Dollar Amidst Dollar Strength and Equity Market Decline
![](https://affairsace.com/wp-content/uploads/2023/09/rupee-1.avif)