Rupee falls 11 paise to 82.60 against dollar in early trade

Rupee falls 11 paise to 82.60 against dollar in early trade

On Wednesday, the rupee settled at 82.49 against the US dollar

FPJ Web DeskUpdated: Thursday, March 02, 2023, 10:29 AM IST
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Rupee falls 11 paise to 82.60 against dollar in early trade | Image: Wikipedia (Representative)

Early on Thursday, due to the strength of the US dollar in the foreign exchange market, the rupee lost 11 paise to trade at 82.60 against the greenback.

According to forex dealers, ongoing foreign fund withdrawals severely weakened investor morale.

At the interbank foreign exchange, the local unit started out weakly versus the dollar at 82.57, then dropped to 82.60, losing 11 paise from its previous close.

On Wednesday, the rupee settled at 82.49 against the US dollar.

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 11 per cent to 104.59.

Brent crude futures, the global oil benchmark, advanced 0.04 per cent to USD 83.34 per barrel.

The 30-share BSE Sensex was trading 303.83 points, or 0.51 percent, lower at 59,107.25 in the domestic equity market. The broader NSE Nifty declined 80.70 points or 0.46 per cent to 17,370.20.

According to exchange data, Foreign Institutional Investors (FIIs) sold shares worth Rs 424.88 crore on Wednesday, making them net sellers in the capital markets.

With inputs from Agencies.

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