Rupee falls 12 paise to 82.05 against US dollar

the rupee Its price fell by 12 pounds to 82.05 against the US dollar in early trading on Friday as the negative trend in local stocks and flat crude oil prices affected investor sentiment.

In the foreign exchange market between banks, the local unit opened at 82.03, then touched 82.05, recording a decrease of 12 pounds from its last close.

The rupee was stable on Thursday at 81.93 against the dollar.

With inflows dominating and the Reserve Bank of India (RBI) continuing to hold the US dollar near 81.90, the rupee is likely to remain range bound, said Anil Kumar Bhansali, Head of Treasury and CEO of Finrex Treasury Advisors LLP.

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An important aspect to watch is the Federal Open Market Committee (FOMC) on July 26, when the US Fed’s “talk” will be watched closely, Bhansali said.

The dollar index, which measures the greenback’s strength against a basket of six currencies, fell 0.09 percent to 100.78 on the back of upbeat retail sales data from the United States.

Brent crude futures rose 0.78 percent to $80.26 a barrel.

On the domestic stock market, 30-share BSE Sensex It was trading at 586.37 points, down 0.87 percent, at 66,985.53 points. broader NSE elegant It fell 160.25 points, or 0.8 percent, to 19,818.90 points.

Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday buying shares worth Rs 3,370.90 crore, according to exchange data.