Rupee falls 6 paise to 82.62 against dollar in early trade

A stronger dollar and conflicting global cues caused the rupee to weaken 6 paise to 82.62 against the US dollar in early trade on Tuesday.

However, the decline in the rupee was restrained, according to traders, by falling crude oil prices, strong Asian currencies, and bullish sentiment in the domestic share market.

The native currency started out stronger on the interbank foreign exchange, at 82.54 against the dollar. Between 82.53 to 82.62, it traded, losing 6 paise from its previous close.

On Monday, the rupee settled at 82.56 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.07 per cent higher at 103.36.

Benchmark Brent crude futures for global oil decreased 1.08 percent to USD 72.99 per barrel.

The broad NSE Nifty was up 51.05 points or 0.30 percent at 17,039.85 points, while the 30-share BSE Sensex was trading 199.45 points or 0.35 percent higher at 57,828.40 points.

In anticipation of the US Federal Reserve's interest rate announcement on Wednesday, investors were carefully trading while also worrying about the state of the international financial system.

According to exchange data, Foreign Institutional Investors (FIIs) sold shares worth Rs 2,545.87 crore on Monday, making them net sellers in the domestic capital market.

With inputs from Agencies.