Rupee falls 12 paise against U.S. dollar in early trade

Sustained foreign fund outflows and elevated crude oil prices in the international market weighed on the domestic unit.

The rupee depreciated 12 paise to 82.63 against the US dollar in early trade on Friday, February 10, 2023 as a lacklustre trend in domestic equities and a strong greenback in the overseas markets dented investor sentiments.

Besides, sustained foreign fund outflows and elevated crude oil prices in the international market weighed on the domestic unit, forex traders said.

At the interbank foreign exchange, the domestic unit opened weak at 82.61 against the dollar, then fell further in early deals to 82.63, registering a decline of 12 paise over its last close.

On Thursday, the rupee appreciated 3 paise to close at 82.51 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.15 per cent to 103.38.

Brent crude futures, the global oil benchmark, declined 0.19 per cent to USD 84.34 per barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 183.51 points or 0.30 per cent lower at 60,622.71 points. The broader NSE Nifty declined 57.80 points or 0.32 per cent to 17,835.65 points.