Rupee rises 8 paise to close at 82.09 against U.S. dollar

Rising for the second straight session, the rupee appreciated 8 paise to close at 82.09 (provisional) against the U.S. dollar on Friday, supported by softening crude oil prices in the international markets.

However, a muted trend in domestic equities and foreign fund outflows capped the gains in the rupee, traders said.

At the interbank foreign exchange market, the local unit opened strong at 82.11 against the U.S. currency. The rupee touched an intra-day high of 82.07 and a low of 82.19. It finally ended the session at 82.09 (provisional) against the greenback, registering a gain of 8 paise over its previous close.

On Thursday, the rupee closed at 82.17 against the U.S. currency.

The Indian currency has gained 15 paise in the past two trading sessions, even though the participants traded cautiously due to expectations of further interest rate hikes by the U.S. Federal Reserve and other central banks.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.05% to 101.89.

Global oil benchmark Brent crude futures declined 0.15% to $80.98 per barrel.

On the domestic equity market front, the 30-share BSE Sensex inched up 22.71 points or 0.04% to end at 59,655.06, and the broader NSE Nifty closed 0.40 points down at 17,624.05.

Foreign Institutional Investors (FIIs) were net sellers in the capital market on Thursday as they offloaded shares worth ₹1,169.32 crore, according to exchange data.