scorecardresearchRupee falls 12 paise to 82.91 against US dollar in early trade

Rupee falls 12 paise to 82.91 against US dollar in early trade

Updated: 21 Oct 2022, 10:30 AM IST
TL;DR.
The rupee which closed at 82.79 against the dollar opened slightly weaker. On Thursday, the RBI intervened by selling more than a billion dollars and the rupee gained from a low of 83.23 to 82.70, said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.
Indian rupee banknotes arranged for a photograph at a general store in Mumbai, India, on Wednesday, July 20, 2022. The rupee slid to all-time low of 80.06 per dollar on Tuesday, and has lost 2.4% over the past month, the third-worst performing Asian currency over the period. Photographer: Dhiraj Singh/Bloomberg

Indian rupee banknotes arranged for a photograph at a general store in Mumbai, India, on Wednesday, July 20, 2022. The rupee slid to all-time low of 80.06 per dollar on Tuesday, and has lost 2.4% over the past month, the third-worst performing Asian currency over the period. Photographer: Dhiraj Singh/Bloomberg

(PTI) The rupee depreciated 12 paise to 82.91 against the US dollar in morning trade on Friday tracking a firm American currency in the overseas market.

At the interbank foreign exchange, the domestic unit opened at 82.89 against the dollar, then lost further ground to 82.91, registering a loss of 12 paise over its previous close.

The local unit also touched 82.75 against the American currency in initial deals.

On Thursday, the rupee rebounded from its lifetime low to close 21 paise higher at 82.79 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.11 per cent to 113.

The rupee which closed at 82.79 against the dollar opened slightly weaker. On Thursday, the RBI intervened by selling more than a billion dollars and the rupee gained from a low of 83.23 to 82.70, said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.

The dollar index and oil were flat at 113 and USD 92.30 per barrel, respectively, Bhansali said adding that the Asian currencies were generally weaker against the dollar.

Brent crude futures, the global oil benchmark, advanced 0.37 per cent to USD 92.72 per barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 316.26 points or 0.53 per cent up at 59,519.16, and the broader NSE Nifty rose 83.50 points or 0.48 per cent to 17,647.45.

Foreign Institutional Investors (FIIs) were net buyers in the capital markets as they purchased shares worth 1,864.79 crore on Thursday, according to exchange data.

First Published: 21 Oct 2022, 10:30 AM IST