The rupee softened by six paise to settle at 55.34 against the dollar due to demand for the American currency from oil importers.
It commenced higher at 55.25 a dollar at the interbank foreign exchange market compared to Friday’s close of 55.28.
However, it touched a low of 55.47 a dollar.
With shares recovering in the fag end and the dollar losing momentum in the international market, the rupee rebounded to settle at 55.34.
Keywords: Indian Rupee, Forex markets, U.S. dollar, volatile trade
