On February 24, 2023, the rupee depreciated 9 paise to 82.73 against the US dollar in early trade. Photo credit: The Hindu
The rupee depreciated 9 paise to 82.73 against the US dollar in early trade on Friday due to the strength of the American currency in the overseas market.
According to forex traders, continued foreign fund outflow further weighed on investor sentiments.
At the interbank foreign exchange, the domestic unit opened weak at 82.67 against the dollar, then settled at 82.73, registering a decline of 9 paise over its previous close.
On Thursday, the rupee had closed at 82.64 against the US dollar.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.04% to 104.55.
Global oil benchmark Brent crude futures rose 0.81% to $82.88 a barrel.
In the domestic equity market, the 30-share BSE Sensex was trading 83.96 points or 0.14% higher at 59,689.76. The broader NSE Nifty rose 19.25 points, or 0.11%, to 17,530.50.
Foreign institutional investors (FIIs) were net sellers in the capital market on Thursday as they offloaded shares worth Rs 1,417.24 crore, according to exchange data.