The rupee fell 4 paise to 88.69 against the US dollar in early trade on Monday, pressured by a strong dollar amid the US government shutdown and rising crude oil prices. Markets show short-term consolidation with medium-term rupee strength.

Mumbai: The rupee fell 4 paise to 88.69 against the US dollar in early trade on Monday, weighed down by the strength of the American currency in the overseas market and elevated crude oil prices.

Forex traders said the rupee sentiment remained fragile amid global uncertainty.

The US shutdown is providing a counter-intuitive lift to the dollar, with government spending halted, fewer dollars are circulating — tightening supply and offering short-term support to the currency, they said.

At the interbank foreign exchange market, the rupee opened at 8

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