Rupee slips 4 paise to 82.24 against dollar in early trade

Early on Friday, the rupee lost 4 paise to 82.24 against the US dollar due to weaker domestic equities and a stronger dollar in international markets.

As the US dollar strengthened against other major currencies in early Asian trade, the local currency at the interbank foreign exchange market opened 12 paise lower at 82.32.

The rupee recovered some of its losses to trade at 82.24, down 4 paise from Thursday's previous finish of 82.20.

According to the traders, a stronger US dollar and losses in domestic equities weighed on the local unit.

Meanwhile, the dollar index, which measures the strength of the US currency against a basket of six currencies, was 0.06 percent higher at 102.63.

Crude oil prices fell in early Asian trade on reports that the United States will likely delay replenishing its strategic reserves despite current low prices.

Global oil benchmark Brent crude slipped 0.16 per cent to USD 75.79 per barrel.

In early trade, the benchmark BSE Sensex fell 63.71 points, or 0.11 percent, to 57,861.57 points, while the broader Nifty of the NSE fell 51.25 points, or 0.3%, to 17,025.65 points.

According to exchange data, Foreign Portfolio Investors (FPIs) sold shares worth Rs 995 crore on Thursday, turning them into net sellers.

With inputs from Agencies.