At the interbank forex market, the rupee opened at 82.76 against the US dollar and finally settled at 82.82 (provisional) for the day. , Photo Credit: Reuters
The rupee on Tuesday declined by 9 paise to close at 82.82 (provisional) against the US dollar due to strength in the American currency overseas and a dull trend in domestic equities.
At the interbank forex market, the rupee opened at 82.76 against the greenback and finally settled at 82.82 (provisional), registering a decline of 9 paise from its previous close of 82.73.
During the session, the domestic unit witnessed an intra-day high of 82.73 and a low of 82.83 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.12% higher at 103.98.
Global oil benchmark Brent crude futures fell 0.49% to $83.66 a barrel.
According to Jatin Trivedi, VP Research Analyst, LKP Securities, the rupee was trading weak near 82.80 against the dollar index, which was volatile between 103.80-104.10.
The rupee’s weakness is due to the anticipation of the US Fed’s minutes update. But the RBI is supporting the rupee and limiting losses and gains between 82.65-83.00, Mr Trivedi said.
The 30-share BSE Sensex declined 18.82 points, or 0.03%, to close at 60,672.72, while the broader NSE Nifty declined 17.90 points, or 0.1%, to 17,826.70.
Foreign institutional investors (FIIs) were net sellers in the capital market on Monday as they offloaded shares worth Rs 158.95 crore, according to exchange data.