“Indian Rupee Depreciates Against UAE Dirham, Ending Nine-Day Upward Trend”

The Indian rupee, after a continuous nine-day ascent, experienced a setback by depreciating 11 paise to reach 82.97 against the US dollar (23.05 against the UAE dirham) in early trading on Tuesday. This shift was attributed to the strength of the US dollar against major global currencies and subdued sentiment in the equity markets. Despite some foreign fund inflows providing support, the Indian currency faced challenges from volatile crude oil prices. The rupee opened weaker at 82.95 and extended its decline to 82.97 against the US dollar in the initial trade, reflecting a loss of 11 paise from its previous close.