Rupee falls 21 paise to 81.38 against dollar

On Friday, the rupee had appreciated by 19 paise to close at 81.17 against the dollar

FPJ Web DeskUpdated: Monday, January 23, 2023, 04:23 PM IST
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Rupee falls 21 paise to 81.38 against dollar | Image: Wikipedia (Representative)

The rupee fell 21 paise to close as 81.38 (provisional) against the US dollar on Monday amid rise in crude prices.

However, strong sentiment at domestic equities market and a weak dollar restricted the fall of the local currency, forex traders said.

The rupee began higher in the interbank foreign exchange market, at 80.92 against the dollar, versus the previous close of 81.17. During the day, the local unit moved between 81.47 and 80.93.

On Friday, the rupee had appreciated by 19 paise to close at 81.17 against the dollar.

In the meantime, worries over US economic growth caused the US dollar index, which measures the value of the dollar against a basket of six different currencies, to fall 0.35 percent to 101.66.

To reach USD 87.86 per barrel, Brent crude increased by 0.26 percent.

The 30-share BSE Sensex increased by 319.90 points or 0.53 percent to reach 60,941.67 on the domestic equities market, while the larger NSE Nifty increased by 90.90 points or 0.5% to close at 18,118.55.

According to exchange data, Foreign Institutional Investors (FIIs) sold shares worth Rs 2,002.25 crore on Friday, making them net sellers in the capital market.

With inputs from Agencies.

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