Rupee closes at 82.78 against U.S. dollar: Falls by 3 paise
The local currency opened at 82.74 on the interbank foreign exchange market, touching a high of 82.72 and an intraday low of 82.78 versus the US dollar.
Due to market participants staying away from the market ahead of the publication of important macroeconomic data, the rupee consolidated in a narrow range and ended the day three paise weaker against the US dollar at 82.78 (provisional).
According to forex traders, the strengthening US dollar and rising crude oil prices caused the Indian rupee to slightly weaken. Nonetheless, the local unit was maintained at lower levels over the previous three days by strong domestic markets and ongoing inflows of foreign funds.
The local unit on the interbank foreign exchange market opened at 82.74 and moved up to 82.72 versus the US dollar, touching an intraday low of 82.78. At last, the local currency closed at 82.78 (provisional) against the US dollar, down 2 paise from its previous closing.
The rupee fell 8 paise versus the US dollar on Monday, closing at 82.75.
Ahead of U.S. inflation statistics, the dollar index, which measures the strength of the dollar against a basket of six currencies, was trading 0.01% lower at 102.85.
The world oil benchmark, Brent crude futures, increased 0.81% to $82.88 a barrel.
Regarding the local equities market, the Sensex closed at 73,667.96 points, up 165.32 points, or 0.22%. The Nifty closed at 22,335.70 points, up 3.05 points, or 0.01%.
According to exchange data, foreign institutional investors (FIIs) purchased shares worth ₹4,212.76 crore on Monday, making them net purchasers in the capital markets.
