India News | Rupee Falls 11 Paise to 82.60 Against US Dollar

Mumbai, Mar 2 (PTI) The rupee depreciated 11 paise to 82.60 against the US dollar in early trade on Thursday, weighed down by strength of the American currency in the overseas market.

Sustained foreign fund outflows further dented investor sentiments, according to forex traders.

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At the interbank foreign exchange, the domestic unit opened weak at 82.57 against the dollar, then fell to 82.60, registering a decline of 11 paise over its last close.

On Wednesday, the rupee settled at 82.49 against the US dollar.

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The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 11 per cent to 104.59.

Brent crude futures, the global oil benchmark, advanced 0.04 per cent to USD 83.34 per barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 303.83 points or 0.51 per cent lower at 59,107.25. The broader NSE Nifty declined 80.70 points or 0.46 per cent to 17,370.20.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 424.88 crore, according to exchange data.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)