New Delhi, Aug 26 (HS): Weighed down by fresh concerns after the United States notified an additional 25 percent tariff on Indian goods and faced with heavy foreign fund outflows, the Indian rupee settled lower against the US dollar on Monday. Persistent global headwinds and higher dollar demand in currency markets kept the local unit under pressure throughout the trading session.

The rupee closed at 87.68 per US dollar (provisional), registering a fall of 9 paise from the previous close of 87.59 on Monday.

The domestic currency opened weak at 87.73, slipping 14 paise in early trade at the interbank foreign exchange market. Selling pressure further deepened soon after, with the rupee touching an intraday low of 87.81 — down 22 paise. However, as dollar demand eased mid-session, the rupee clawed back some ground to trade at 87.62, limiting the losses to just 3 paise temporarily.

Late-session foreign investor withdrawals again weighed on sentiment, dragging the rupee lower to end with a 9-paise loss.

Against other global majors, the rupee also showed a weak bias. It slipped 32 paise versus the euro to close at 102.09 (provisional). In trade against the British pound, the currency saw intraday fluctuations between 117.92 and 118.22, finally ending steady at 118.19 — unchanged from the previous day.

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Hindusthan Samachar / Jun Sarkar