Rupee falls seven paise to 82.16 against U.S. dollar

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| Photo Credit: The Hindu

Falling for the second straight session, the Rupee depreciated by seven paise to 82.16 against the U.S. dollar on May 12, as a strong greenback overseas weighed on investor sentiments.

“However, a positive trend in domestic equities and unabated foreign fund inflows cushioned the downslide,” traders said.

“Investors were cautious ahead of inflation data due to be released later in the day,” they added.

At the interbank foreign exchange market, the local unit opened weak at 82.11 against the U.S. currency and closed at 82.16 (provisional), registering a fall of seven paise over its previous close.

During the session, the Rupee touched its intra-day high of 82.09 and a low of 82.23 against the dollar. On Thursday, the Rupee closed at 82.09 against the U.S. currency.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.03% to 101.90. Global oil benchmark Brent crude futures slipped 0.07% to $74.93 per barrel.

On the domestic equity market front, the 30-share BSE Sensex gained 123.38 points or 0.20% to end at 62,027.90, and the broader NSE Nifty closed 17.80 points or 0.10% higher at 18,314.80.

Foreign Institutional Investors (FIIs) were net buyers in the capital market on May 11 as they purchased shares worth ₹837.21 crore, according to exchange data.