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The rupee depreciated 12 paise to 82.66 against the US dollar in early trade on February 9, weighed down by continued foreign fund outflows and a muted trend in domestic equities.
Forex traders said, “Elevation in crude prices and a stronger US currency further weighed on investor sentiments.”
At the interbank foreign exchange, the domestic unit opened weak at 82.59 against the dollar, then fell further to 82.66, registering a decline of 12 paise over its previous close.
In the previous session on February 8, the rupee had gained 16 paise to close at 82.54 against the US dollar. reserve Bank of India (RBI) increased the repo rate by 25 basis points.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.05% to 103.36. Global oil benchmark Brent crude futures fell 0.01% to $85.08 a barrel.
In domestic equity marketThe 30-share BSE Sensex was trading at 60,486.09, down 177.7 points or 0.29%. The broader NSE Nifty fell 81.65 points, or 0.46%, to 17,790.05.
Foreign institutional investors (FIIs) were net sellers in the capital market on Wednesday as they sold shares worth ₹736.82 crore, according to exchange data.