Rupee Weakens Against Dollar

The rupee closed weaker against the dollar on Thursday.

After opening at Rs 83.19, the currency weakened 10 paise to close at 83.28 against the greenback. It had closed at Rs 83.18 on Wednesday, according to Bloomberg data.

"The upcoming higher volatility, weaker USD and lower U.S. yields amid the Fed rate cut will surely result in a fresh carry trade set-up, and will be an appreciating point for rupee," Amit Pabari, managing director at CR Forex, said.

"DXY is slightly higher supported by US economic data and a slight deterioration in market sentiment," Kunal Sodhani, vice president of Shinhan Bank, said. "The Santa Claus rally took a pause, with Wall Street's main indexes about to end a five-day positive streak."

"Treasury yields reached fresh lows. For USDINR, 83.07 acts as a support while 83.28 a resistance," Sodhani said.