Rupee rises 6 paise to close at 82.69 against dollar

Rupee rises 6 paise to close at 82.69 against dollar

The rupee finally ended at 82.69 against the American currency, registering a rise of 6 paise over its previous close of 82.75

FPJ Web DeskUpdated: Monday, December 19, 2022, 04:45 PM IST
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The rupee gained 6 paise to settle at 82.69 (provisional) against the US dollar on Monday as robust buying in the domestic equities and a weak American currency against key crosses overseas boosted investor sentiments.

However, fresh foreign capital outflows and rising crude prices restricted the rupee's rise, forex dealers said.

At the interbank forex market, the local unit opened weak at 82.80 against the greenback and witnessed an intra-day high of 82.57 and a low of 82.80.

It finally ended at 82.69 against the American currency, registering a rise of 6 paise over its previous close of 82.75.

The dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.44 per cent to 104.24.

On the domestic equity market front, the BSE Sensex ended 468.38 points or 0.76 per cent higher at 61,806.19, while the broader NSE Nifty advanced 151.45 points or 0.83 per cent to 18,420.45.

Brent crude futures, the global oil benchmark, advanced 1.10 per cent to USD 79.91 per barrel.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday as they offloaded shares worth Rs 1,975.44 crore, according to exchange data.

After investing over Rs 36,200 crore last month, foreign investors continued their positive momentum and have injected a net Rs 10,555 crore in Indian equities so far in December amid stabilisation in oil prices and moderating US inflation.

Going forward, FPI flows are expected to be volatile amid equity markets worldwide witnessing an increase in volatility as global central banks reiterate their intent to keep policy rates high for an extended period to curb elevated inflation in their respective economies, said Shrikant Chouhan, head of equity research, (retail), Kotak Securities Ltd.

With inputs from Agencies.

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