Rupee falls 27 paise to end at 82.76 against dollar

The rupee finally settled at 82.76, down 27 paise over its previous close of 82.49

FPJ Web DeskUpdated: Thursday, December 15, 2022, 03:57 PM IST
article-image
Image Source: Wikipedia (Representative)

The rupee declined by 27 paise to close at 82.76 (provisional) against the US dollar on Thursday after the US Federal Reserve's interest rate hike and its hawkish stance dented investor sentiments.

A massive sell-off in domestic equities and a strong greenback overseas also weighed on the local unit, forex traders said.

At the interbank foreign exchange market, the rupee opened sharply lower at 82.63 against the greenback and witnessed a high of 82.41 and a low of 82.77.

It finally settled at 82.76, down 27 paise over its previous close of 82.49.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.56 per cent to 104.35.

Brent crude futures, the global oil benchmark, dropped 0.76 per cent to USD 76.54 per barrel.

In the domestic equity market, the 30-share BSE Sensex closed 878.88 points or 1.40 per cent lower at 61,799.03. The broader NSE Nifty fell 245.40 points or 1.32 per cent to 18,414.90.

The US Fed on Wednesday increased interest rates by 50 basis points on expected lines and signalled more hikes ahead to fight inflation. The US central bank raised the interest rate to 4.25-4.50 per cent to the highest level in 15 years.

Foreign institutional investors (FIIs) were net buyers in capital markets on Wednesday as they bought shares worth Rs 372.16 crore, according to exchange data.

With inputs from Agencies.

(If you have a story in and around Mumbai, you have our ears, be a citizen journalist and send us your story here. )

(To receive our E-paper on WhatsApp daily, please click here.  To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Moody's, Fitch say exposure of banks to Adani not big enough to be concerned

Moody's, Fitch say exposure of banks to Adani not big enough to be concerned

Congress leader tweets Ministry of Power's letter favouring Adani's Mundra Port to transport coal

Congress leader tweets Ministry of Power's letter favouring Adani's Mundra Port to transport coal

Supreme Court refuses grant Maharashtra license to bike taxi aggregator Rapido

Supreme Court refuses grant Maharashtra license to bike taxi aggregator Rapido

Beyond PM Modi, meet non-BJP leaders caught on camera with Gautam Adani

Beyond PM Modi, meet non-BJP leaders caught on camera with Gautam Adani

Maggi, Nescafe prices may increase in 2023 due to higher production costs

Maggi, Nescafe prices may increase in 2023 due to higher production costs