Rupee Depreciates 15 Paise To 88.65 Against Dollar, Dragged By Elevated Crude Oil Prices & Foreign Fund Outflows

Mumbai : The rupee depreciated 15 paise to 88.65 against the dollar in early trade on Wednesday, weighed down by elevated crude oil prices and foreign fund outflows.Forex traders said renewed optimism over the India-US trade deal supported the domestic unit at lower levels.At the interbank foreign exchange, the rupee opened at 88.61 against the US dollar before dropping to 88.65, down 15 paise from its previous close.

On Tuesday, the rupee had settled at 88.50 against the US dollar.Forex traders said the MSCI Review may result in positive foreign fund inflows. Global index provider MSCI announced the inclusion of Fortis Healthcare, GE Vernova T&D India, One 97 Communications (Paytm), and Siemens Energy India in its Global Standard Index.These changes are expected to trigger passive inflo