Re falls to all-time low of 83.66/$

Mumbai: The rupee consolidated in a narrow range and depreciated 3paise to close at its all-time low of 83.66 against the US dollar on Friday, weighed down by strong American currency and muted trend in domestic equities.Forex traders said weak domestic markets and elevated oil prices pressured the rupee, however, likely Reserve Bank of India (RBI) intervention prevented a sharp fall in the domestic unit.

At the interbank foreign exchange market, the local unit opened at 83.64, and touched an intra-day high of 83.60 and a low of 83.66 against the dollar during the trading session. It finally settled at an all-time low level of 83.66 against the American currency, registering a loss of 3paise from its previous close.