The rupee depreciated by three paise to open at 82.76 against the US dollar in early trade. Fee | Photo credit: The Hindu
The rupee depreciated 3 paise to close at 82.76 against the US dollar in early trade on Tuesday, trading lower against the stronger American currency.
Forex dealers said the rupee traded in a range-bound range as a positive trend in domestic equities and easing crude prices supported the local unit and restricted losses.
At the interbank foreign exchange, the domestic unit opened weak at 82.76 against the dollar, registering a decline of 3 paise over its previous close.
In the previous session on Monday, the rupee had closed at 82.73 against the dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.19% to 104.05.
Global oil benchmark Brent crude futures fell 1.11% to $83.14 a barrel.
Forex traders said the lack of triggers is reducing volumes, with the focus this week on European flash PMIs and US Fed minutes.
In the domestic equity market, the 30-share BSE Sensex was trading 104.11 points or 0.17% higher at 60,795.65. The broader NSE Nifty rose 14.25 points, or 0.08%, to 17,858.85.
Foreign institutional investors (FIIs) were net sellers in the capital market on Monday, selling shares worth Rs 158.95 crore, according to exchange data.