The rupee depreciated 4 paise to 82.83 against the US dollar in early trading on Wednesday, weighed down by a subdued trend in domestic equities. However, inflows of new foreign funds and a weak US currency against major foreign rivals limited losses in the domestic unit, according to forex traders.
In the interbank foreign exchange market, the domestic unit opened flat at 82.79 against the dollar. It later lost some ground to quote at 82.83 and registered a 4 paise drop on the final close.
In the previous session on Tuesday, the rupee settled at 82.79 against the dollar.
Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, fell 0.09 percent to 104.01.
Brent oil futures, the global oil benchmark, rose slightly by 0.06 percent to $83.10 a barrel.
On the domestic stock market, the 30-stock BSE Sensex traded 279.41 points or 0.46 percent lower at 60,393.31. The broader NSE Nifty fell 86.55 points, or 0.49 percent, to 17,740.15.
Foreign institutional investors (FIIs) emerged as net buyers in the capital markets on Tuesday as they bought shares worth Rs 525.80 crore, according to exchange data.
(Except for the headline, this story has not been edited by DailyExpertNews staff and is being published from a syndicated feed.)
Featured video of the day
India, China will contribute more than 50% to global growth: IMF