Rupee falls 9 paise to close at 82.82 against US dollar

Rupee falls 9 paise to close at 82.82 against the US dollarPTI Updated: February 21, 2023 16:15 IST
Mumbai, Feb 21 (PTI) The rupee closed down 9 paise to close at 82.82 (provisional) against the US dollar on Tuesday, as strength in the US currency in the foreign market and a subdued trend in domestic equities weighed on investor sentiment.
In the interbank forex market, the rupee opened at 82.76 and ended at 82.82 (provisional), down 9 paise from its previous close of 82.73.
During the session, the domestic unit touched an intra-day high of 82.73 against the US dollar and dropped as low as 82.83.
Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, rose 0.12 percent to trade at 103.98.
Global oil benchmark Brent crude futures were down 0.49 percent at US$83.66 a barrel.
According to Jadeen Trivedi, VP Research Analyst, LKB Securities, the rupee traded weakly near 82.80 against the dollar index, which fluctuated between 103.80-104.10.
Rupee weakness was borrowed due to hawks expecting a minute update from the US Federal Reserve. But the Reserve Bank supports the rupee and limits the fall and rise between 82.65-83.00, Trivedi said.
The 30-share BSE Sensex ended down 18.82 points, or 0.03 percent, at 60,672.72, while the broader NSE Nifty fell 17.90 points, or 0.1 percent, to 17,826.70.
Foreign institutional investors (FIIs) were net sellers in the capital markets on Monday as they bought Rs. 158.95 crore worth of shares, according to exchange data.

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