Rupee falls 1 paisa to 82.10 against US dollar
The dollar index, which gauges the greenback's strength against a basket of six currencies, was up 0.02 per cent at 102.57.
The rupee slipped by 1 paisa to 82.10 against the US dollar in early trade on Wednesday, tracking the strong dollar and withdrawal of foreign funds from domestic equities. An upward movement in crude price also weighed on the local unit, forex traders said. At the interbank foreign exchange, the domestic unit opened lower at 82.13 but regained further to touch the peak of 82.07. The currency later turned flat and traded at 82.10 against the greenback, registering a fall of 1 paisa from its previous close.
On Tuesday, the rupee settled at 82.09 against the dollar. "Upswings went soft after achieving the objective of 82.15, which we have been playing for the last two days. We are encouraged to pursue extended upsides aiming 82.2-82.25, and would rather do that on dips, but slippage past 82.04 may make 81.9 vulnerable again," Anand James, Chief Market Strategist at Geojit Financial Services, said in his USD-INR outlook.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was up 0.02 per cent at 102.57.
Crude oil price benchmark Brent crude was trading 0.26 per cent higher at USD 76.10 per barrel.
In the domestic equity market, the 30-share BSE Sensex advanced 185.17 points or 0.29 per cent to 63,512.87, while broader NSE Nifty inched up 38.75 points or 0.21 per cent to 18,855.45.
Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday as they sold shares worth Rs 1,942.62 crore, according to exchange data.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Bandhan Bank Q4 FY24 Results Preview: PAT, interest income likely to grow in almost double digits; asset quality may improve
Gold and Silver rate today (May 14, 2024): Precious metals trade in green; yellow metal above Rs 72,000 once again, white metal near Rs 85,350
Women loco pilots speak about their struggle; many men have to be informed even for 'washroom break' in a moving train
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
10:07 AM IST