Finance
The rupee fell 13 paise to 82.75 (provisional) against the US dollar on Tuesday, as investors became wary of a downward trend in domestic equities and rising crude prices in global markets.
Furthermore, renewed forex outflows and a waning appetite for riskier assets weighed on the local currency, according to forex dealers.
However, they added, the rupee’s loss was limited by a sharp decline in the greenback against major rivals overseas.
The local currency opened weak at 82.69 against the US dollar on the interbank forex market, with an intraday high of 82.69 and a low of 82.88.
It eventually ended at 82.75 against the US dollar, down 13 paise from its previous close of 82.62.
The BSE Sensex finished 103.90 points or 0.17 percent lower at 61,702.29, while the broader NSE Nifty fell 35.15 points or 0.19 percent to 18,385.30.
Brent crude futures rose 0.73 percent to USD 80.38 per barrel, the global oil benchmark.
The dollar index, which measures the strength of the US currency against a basket of six currencies, fell 0.74 percent to 103.95.
According to exchange data, foreign institutional investors (FIIs) were net sellers in the capital markets on Monday, offloading shares worth Rs 538.10 crore.
Meanwhile, gold prices in the national capital rose Rs 38 to Rs 54,740 per 10 grams on Tuesday, according to HDFC Securities.
Source:FE
