Rupee falls 10 paise to close at 82.74 against U.S. dollar

During the session, the domestic unit witnessed an intra-day high of 82.66 and a low of 82.81 against the American dollar.

The rupee depreciated 10 paise to close at 82.74 (provisional) against the U.S. currency on Friday, as the strength of the American currency in the overseas market and a muted trend in domestic equities weighed on investor sentiments.

At the interbank foreign exchange market, the rupee opened at 82.67 against the greenback and finally settled for the day at 82.74 (provisional), registering a fall of 10 paise over its previous close of 82.64.

During the session, the domestic unit witnessed an intra-day high of 82.66 and a low of 82.81 against the American dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.10% higher at 104.69.

Global oil benchmark Brent crude futures advanced 1.08% to $83.10 per barrel.

According to Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, the Indian rupee depreciated on weak domestic markets and a positive greenback. Rebound in crude oil prices also weighed on rupee.

Dollar strengthened on upbeat labour market data and expectations of a hawkish Federal Reserve. However weak GDP capped sharp upside in dollar. The U.S. economy expanded at 2.7% in Q4 2022 compared to initial estimates of 2.9% and 3.2% in Q3 2022, Mr. Choudhary said.