Rupee slips three paise to 82.12 against U.S. dollar in early trade

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| Photo Credit: The Hindu

The Rupee declined three paise to 82.12 against the U.S. dollar in early trade on May 12, weighed down by a negative trend in domestic equities.

“However, a weak greenback against major rivals overseas and persistent foreign capital inflows supported the domestic currency and restricted the loss,” traders said.

At the interbank foreign exchange, the local unit opened weak at 82.11 against the dollar and slipped further to 82.12, registering a fall of three paise over its previous close. On May 11, 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, slipped 0.04% to 101.83.

In the domestic equity market, the 30-share BSE Sensex fell 312.99 points or 0.51% to 61,591.53 in early trade on Friday. The broader NSE Nifty declined 93.50 points or 0.51% to 18,203.50.

Brent crude futures, the global oil benchmark, declined 0.59% to $74.54 per barrel. 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.