Rupee falls 11 paise to 79.82 against US dollar in early trade

CUE API | | Updated on: Sep 16, 2022

The rupee slid tracking strong dollar overseas amid weak domestic equities

The rupee depreciated by 11 paise to 79.82 against the US dollar in opening trade on Friday, tracking the strength of the American currency and a negative trend in domestic equities.

At the interbank foreign exchange market, the rupee opened at 79.80 against the greenback, then fell to 79.82, registering a decline of 11 paise over its last close.

In initial deals, the local unit also touched 79.79 against the dollar.

On Thursday, the rupee declined by 19 paise to close at 79.71 against the dollar.

The risk-off moods and firm crude oil prices weighed on the local unit, forex traders said.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.01 per cent to 109.72.

Global oil benchmark Brent crude futures rose 0.34 per cent to $91.15 per barrel.

Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth ₹1,270.68 crore, as per exchange data.

Published on September 16, 2022
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