Rupee falls 16 paise to 82.21 against US dollar

the rupee Its value fell 16 baisa to 82.21 against the US dollar in early trading on Thursday, affected by the strength of the US currency on the back of the US Federal Reserve’s hawkishness.

In the interbank foreign exchange market, the local unit opened at 82.16, then decreased to 82.21, recording a decrease of 16 pounds from its last closing amid a negative trend in local stocks.

Wednesday, The rupee settled at 82.05 against the dollar Helped by strong macro fundamentals, foreign investment inflows, and dollar weakness versus key competitors abroad.

The rupee reached 81.90 offshore before dropping to 82.21 on Thursday morning, said Anil Kumar Bhansali, head of treasury and CEO of Finrex Treasury Advisors LLP. On a hardline Fed.

“The US Federal Reserve kept interest rates at 5-5.25 percent, but gave a hawkish commentary with two more rate hikes during the year, which lifted the dollar index to 103.20,” Bhansali said.

The dollar index, which measures the greenback’s strength against a basket of six currencies, rose 0.32 percent to 103.27.

Brent crude futures, the global oil benchmark, fell 0.20 percent to $73.05 a barrel.

In the domestic stock market, 30 shares BSE Sensex It was trading at 111.24 points, down by 0.18 percent, at 63,117.27 points. the widest NSE Nifty It decreased by 20.30 points, or 0.11 percent, to 18,735.60 points.

Foreign Institutional Investors (FIIs) They were net buyers in the capital markets on Wednesday buying shares worth Rs 1,714.72 crore, according to exchange data.