Finance
In early trade on Thursday, the rupee fell 12 paise to 82.66 against the US dollar, weighed down by continued foreign fund outflows and a flat trend in domestic equities.
Firm crude oil prices and a strong US dollar exacerbated investor concerns, according to forex traders.
At the interbank foreign exchange, the domestic unit opened weak at 82.59 against the dollar before falling to 82.66, a 12 paise drop from its previous close.
The rupee gained 16 paise to close at 82.54 against the US dollar in the previous session on Wednesday, after the Reserve Bank of India (RBI) raised the repo rate by 25 basis points.
Meanwhile, the dollar index, which measures the strength of the US currency against a basket of six currencies, fell 0.5% to 103.36.
Brent crude futures fell 0.01 percent to USD 85.08 per barrel, the global oil benchmark.
The 30-share BSE Sensex was trading 177.7 points, or 0.29 percent, lower at 60,486.09 in the domestic equity market. The NSE Nifty fell 81.65 points, or 0.46 percent, to 17,790.05.
According to exchange data, foreign institutional investors (FIIs) were net sellers in the capital markets on Wednesday, offloading shares worth Rs 736.82 crore.
Source:BS
