Rupee falls 3ps to 90.64/$

Mumbai: The rupee consolidated in a narrow range and settled for the day 3paise lower at 90.64 (provisional) against the US dollar, tracking the strength of the American currency in the overseas market and a negative trend in domestic equities.

Forex traders said rupee traded in a narrow range with a weakening bias as a firm dollar limited the upside for emerging market cur-rencies including the rupee.

At the interbank foreign exchange market, the rupee opened at 90.69 against the US dollar, and touched an intraday high of 90.60 and a low of 90.79 during the day.

At the end of the trading session, the domestic unit was quoted at 90.64 (provisional), lower by 3 paise over its previous close.

On Thursday, the rupee appreciated 17paise to settle at 90.61 against the US dollar. “Risk sentiment has been dampened by renewed concerns over the disruptive impact of AI across industries.

Safe haven assets rallied,” IFA Global said in a re-search note. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.10 per cent higher at 97.01.

Meanwhile, India on Thursday in-troduced a new series of its Consumer Price Index (CPI), the benchmark that tracks retail infla-tion, starting with January data at 2.75 per cent.

The new series covers a higher number of goods and services and re-aligns the weightage of various constituents.