Rupee gains 32 paise to close at 82.50 against dollar

Rupee gains 32 paise to close at 82.50 against dollar

The rupee finally ended at 82.50, registering a rise of 32 paise over its previous close

FPJ Web DeskUpdated: Thursday, January 05, 2023, 04:51 PM IST
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Rupee gains 32 paise to close at 82.50 against dollar | Image Source: Wikipedia (Representative)

A weaker US dollar abroad helped the rupee gain 32 paise to settle at 82.50 against the dollar on Thursday.

Forex traders claimed that the currency benefited from reasons including strong Asian competitors and crude oil prices trading under USD 80 per barrel.

Investor mood was dampened by persistent foreign money outflows and a downward trend in domestic shares.

At the interbank foreign exchange market, the local unit opened at 82.75 and touched an intra-day high of 82.50 and a low of 82.80 against the greenback.

It finally ended at 82.50 (provisional), registering a rise of 32 paise over its previous close.

On Wednesday, the rupee recovered from its all-time low level and settled at 82.82 against the dollar.

The dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.06 per cent to 104.18.

Brent crude futures increased 2.62 percent to USD 79.88 per barrel.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 2,620.89 crore, according to exchange data.

With inputs from Agencies.

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