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The rupee consolidated in a narrow range and settled for the day lower by 6 paise at 88.68 (provisional) against the US dollar , as foreign fund outflows and continuous dollar demand from local importers, including oil companies, exerted pressure on the local currency.
Forex traders said rupee is trading in a tight range, as overnight decline in crude oil prices and renewed optimism over US-India trade talks providing a steady anchor and restricted the downfall.
At the interbank foreign exchange, the rupee opened at 88.66 against the US dollar and touched an intra-day high of 88.63 and a low of 88.73 during the day.
The domestic unit finally settled for the day at 88.68 (provisional), registering a loss of 6 paise from its previous close.
On Wednesday, the rupee depreciated 12 paise to close at 88.62 against the US dollar.
