Rupee falls 28 paise to 81.70 against U.S. dollar

The rupee fell 28 paise to close at 81.70 (provisional) against the U.S. dollar on January 24 as unabated foreign fund outflow hit market sentiments.
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The rupee fell 28 paise to close at 81.70 (provisional) against the U.S. dollar on January 24 as unabated foreign fund outflow hit market sentiments.

However, a weak dollar and fall in crude prices capped the losses in the local currency, forex traders said.

At the interbank foreign exchange market, the rupee opened lower at 81.61 to a dollar against the previous close of 81.42. The local unit moved in a range of 81.43 to 81.76 during the day.

On January 23, the rupee had declined by 25 paise to close at 81.42 against the U.S. dollar.

Meanwhile, the U.S. dollar index, which gauges the greenback’s strength against a basket of six currencies, declined 0.01% to 102.15 amid concerns over U.S. economic growth.

The Brent crude was trading 0.41% lower at $87.83 per barrel.

On the domestic equity market front, the 30-share BSE Sensex ended almost flat at 60,978.75, up 37.08 points or 0.06%. The broader NSE Nifty inched up 0.25 points to 18,118.30.

Foreign Institutional Investors (FIIs) were net sellers in the capital market on January 23 as they sold shares worth ₹219.87 crore, according to exchange data.