MUMBAI, Sept 22: The rupee depreciated 15 paise to close at 88.31 (provisional) against the US dollar on Monday, as investors weighed Trump’s H-1B visa fee hike impact on Indian remittances amid heightened risk-averse sentiment. Forex traders said the recent hike in H-1B visa fees could contribute to equity outflows from the Indian IT sector in the near term, and could also exert pressure on the Indian rupee. At the interbank foreign exchange, the rupee opened at 88.20, then touched an intra-day low of 88.34 and a high of 88.12 against the greenback. The domestic unit finally settled at 88.31 (provisional), lower by 15 paise over its previous close. On Friday, the rupee appreciated four paise to close at 88.16 against the US dollar. “We expect the rupee to remain weak as the US v
Rupee falls 15 paise to close at 88.31 against US dollar

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