Mumbai: The rupee witnessed range-bound trade on Wednesday and settled for the day lower by three paise at 88.80 (provisional) against the US dollar, tracking a negative trend in domestic equities amid a rise in risk-off sentiments.

Forex traders said the US dollar is holding its ground, yet beneath the dollar's steady facade lies a growing tension.

The rupee is likely to remain within a narrow range, supported by domestic triggers such as IPO-related inflows, and potential progress in US–India trade talks could gradually tilt sentiment in the rupee's favour.

At the interbank foreign exchange, the rupee opened at 88.76 against the US dollar, touched an intraday low of 88.81 and finally settled for the day at 88.80 (provisional), registering a loss of 3 paise over its previous close.

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