Finance
The rupee fell 9 paise against the US dollar on Tuesday, closing at 82.82 (provisional) as the strength of the US currency in the overseas market and a flat trend in domestic equities weighed on investor sentiment.
The rupee opened at 82.76 against the US dollar on the interbank foreign exchange market and ended the day at 82.82 (provisional), down 9 paise from its previous close of 82.73.
Against the US dollar, the domestic unit reached an intraday high of 82.73 and a low of 82.83 during the session.
Meanwhile, the dollar index, which measures the strength of the US currency against a basket of six currencies, was trading 0.12% higher at 103.98.
Brent crude futures fell 0.49 percent globally to USD 83.66 per barrel.
The rupee traded near 82.80 against the dollar index, which was volatile between 103.80-104.10.
The rupee’s weakness is borrowed as a result of the expected hawkish US Fed minutes update. However, the RBI is supporting the rupee and limiting the fall and rise to 82.65-83.00, according to Trivedi.
The 30-share BSE Sensex fell 18.82 points, or 0.03 percent, to 60,672.72, while the NSE Nifty fell 17.90 points, or 0.1%, to 17,826.70.
According to exchange data, Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday, offloading shares worth Rs 158.95 crore.
Source:FE
