Rupee slips 5 paise against US dollar in early trade
The Hindu
Mumbai
The rupee depreciated 5 paise to 82.75 against the US dollar in early trade on Wednesday, December 21, 2022, as the strengthening of the American currency against key rivals overseas and firm crude prices in global markets weighed on the local unit.
However, a higher opening in domestic equities supported the local currency and capped the losses, forex traders said.
At the interbank foreign exchange, the domestic unit opened weak at 82.76 against the dollar, then inched higher to 82.75, registering a decline of 5 paise over its last close.
In the previous session on Tuesday, the rupee settled 8 paise lower at 82.70 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.10 per cent to 104.07.
Brent crude futures, the global oil benchmark, advanced 0.39 per cent to USD 80.30 per barrel.
In the domestic equity market, the 30-share BSE Sensex was trading 255.63 points or 0.41 per cent higher at 61,957.92. The broader NSE Nifty rose 67.15 points or 0.37 per cent to 18,452.45.
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