The rupee depreciated 31 paise to settle at 91.99 against the US dollar on Wednesday, touching the lowest closing level for the second time in less than a week, amid increased month-end demand for the greenback.
Traders said the rupee opened higher as the dollar index softened and a long-awaited trade breakthrough with Europe offered reassurance. However, increased month-end demand for the American currency as well as the ongoing geopolitical tensions dented sentiments.
