Rupee slips 10 paise to 82.80 against dollar

According to the forex traders, a weak greenback against major rivals overseas and fresh foreign fund inflows supported the domestic unit and capped the losses

The rupee declined 10 paise to settle at 82.80 (provisional) against the U.S. dollar on Wednesday as a massive sell-off in domestic equities and risk aversion in global markets dented investor sentiment.

However, a weak greenback against major rivals overseas and fresh foreign fund inflows supported the domestic unit and capped the losses, forex traders said.

At the interbank forex market, the local unit opened weak at 82.76 against the greenback and witnessed an intra-day high of 82.66 and a low of 82.83.

It finally ended at 82.80, a decline of 10 paise over its previous close of 82.70.

On the domestic equity market front, the BSE Sensex ended 635.05 points or 1.03% lower at 61,067.24, while the broader NSE Nifty fell 186.20 points or 1.01% to 18,199.10.

Brent crude futures, the global oil benchmark, advanced 0.90% to $80.71 per barrel.

The dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.09% to 104.06.