MUMBAI: Rupee fell 1 paisa to 88.03 against the US dollar in a highly volatile morning trade on Thursday amid sustained FII outflows and a stronger greenback.
Goods and Services Tax (GST) rate cuts, which buyoed market sentiments, and a drop in global oil prices limited losses in the local unit, according to forex traders.
At the interbank foreign exchange, the domestic unit opened weaker at 88.09 against the US dollar and rose sharply to 87.85 before slipping again to 88.03, down 1 paisa from its previous close.
