The Indian rupee closed weaker against the U.S. dollar on Monday as a fall in the dollar index offset the impact of a rise in crude oil prices.
The local currency weakened 8 paise to close at an all-time weakest level of Rs 83.35 against the U.S. dollar on Monday, after opening at Rs 83.27. It closed at 83.27 on Friday, according to Bloomberg data.
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"We (the rupee) continue to be in the frustrating range of Rs 83.3-83.00 If Rs 83.30 continue to resist, expect the pair to slip to Rs 83.19. Push above Rs 83.3 could call for Rs 83.4 initially, and then Rs 83.65," Geojit Financial Services said in a note.
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