Image used for representational purpose. , Photo Credit: Special Arrangement
The rupee depreciated 4 paise to 82.80 against the US dollar in early trade on December 16 due to losses in domestic equities and risk aversion in global markets.
However, a weak dollar overseas supported the domestic currency and limited the fall, forex traders said.
At the interbank foreign exchange, the rupee opened weak at 82.84 against the dollar, then recovered marginally to 82.80, down 4 paise over its previous close.
Read also: Rupee depreciates 27 paise to close at 82.76 against US dollar
The rupee had declined 27 paise to close at 82.76 against the US dollar in the previous session on December 15.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.28% to 104.27.
Global oil benchmark Brent crude futures rose 0.59% to $81.69 a barrel.
In the domestic equity market, the 30-share BSE Sensex was trading at 61,505.67, down 293.36 points or 0.47%. The broader NSE Nifty fell 77.85 points, or 0.42%, to 18,337.05.
Foreign institutional investors (FIIs) turned net sellers in the capital market on December 15 as they sold shares worth ₹710.74 crore, according to exchange data.