Rupee falls 15 paise to close at 82.09 against US dollar

The value of the rupee decreased by 15 pounds to close at 82.09 (temporary) against the US dollar on Thursday, tracking the strength of the US currency and The rise in crude oil prices in foreign markets.

Besides, negative sentiment in the stock markets led to a decline in the domestic unit.

Forex traders said investors traded cautiously awaiting inflation data on the domestic front, which is due to be released on Friday. On the other hand, the US currency found support amid declining US inflation, which also sparked positive sentiments across all global markets.

In the interbank foreign exchange market, the local unit opened weakly at 81.97 against the US currency and finally closed at 82.09 (temporary), recording a decrease of EGP 15 from its previous close.

During the session, the rupee touched an intraday high of 81.93 and recorded a low of 82.13 against the dollar.

Wednesday, The rupee is closed At 81.94 against the American currency.

According to US government data, consumer inflation eased in April to 4.9 percent, better than street expectations.

Domestic unit is likely to remain in the 81.85-82.25 range as participants await US unemployment data, which will be released later in the day, said Jatin Trivedi, Vice President Research Analyst at LKP Securities.

“Crude oil prices saw an upward trend, putting pressure on the rupee. Forex market participants are awaiting US unemployment data later in the evening. The rupee range can be seen between 81.85 and 82.25,” Trivedi said.

Meanwhile, the dollar index rose 0.42 percent to 101.91.

Brent crude futures rose 0.56 percent to $76.84 a barrel.

On the domestic stock market front, BSE Sensex fell 35.68 points, or 0.06 percent, to close at 61,904.52 points, and NSE Nifty closed down 18.10 points, or 0.1 percent, at 18,297.00 points.

Foreign institutional investors (FIIs) were net buyers in the capital market on Wednesday buying shares worth Rs 1,833.13 crore, according to exchange data.