Rupee falls 13 paise to close at 82.01 against U.S. dollar
The Hindu
During the session, the local unit touched a peak of 81.87 and hit the lowest level of 82.03
The rupee fell 13 paise to settle at 82.01 (provisional) against the U.S. dollar on July 26 due to an elevated crude prices in international markets and month-end dollar demand from importers.
Positive cues from the domestic equity market and inflow of foreign funds provided support to the rupee, even as investors traded cautiously ahead of U.S. Federal Reserve's interest rate decision, Forex traders said.
According to Anuj Choudhary, Research Analyst at Sharekhan by BNP Pariba, the rupee declined "as traders adjusted their positions ahead of the FOMC decision tonight and month-end dollar demand from importers".
"Reports of RBI intervention also weighed on the rupee. However, the surge in domestic markets and a soft US dollar capped sharp gains," Choudhary said.
At the interbank foreign exchange, the domestic unit opened at 81.89 against the dollar and finally ended the day at 82.01 (provisional), registering a fall of 13 paise from its previous close.
During the session, the local unit touched a peak of 81.87 and hit the lowest level of 82.03.
On Tuesday, the rupee had settled at 81.88 against the dollar.
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