Rupee falls 8 paise against US dollar in early trade
The Hindu
Rupee vs dollar updates in the indian forex markets
The rupee depreciated 8 paise to 82.68 against the US dollar in early trade on Friday, July 7, 2023, amid a muted trend in domestic equities and rising crude oil prices.
However, sustained foreign fund inflows supported the local unit and contained the fall.
At the interbank foreign exchange, the domestic unit opened at 82.68, registering a decline of 8 paise over its last close.
On Thursday, the rupee had settled at 82.60 against the dollar.
Forex traders said participants remained bullish on the greenback due to risk-aversion and rising expectations of hawkish monetary policy by the US Federal Reserve.
Moreover, rising crude oil prices also weighed on the domestic unit.
The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.04 per cent to 103.12.
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