Rupee falls 25 paise to 82.62 against US dollar

the rupee It fell by 25 pesos to 82.62 (tentative) against the US dollar on Wednesday amid the dollar’s strength against major currencies abroad and continued foreign money inflows.

Dealers said the negative sentiment in the local stock market also affected the local currency.

In the interbank foreign exchange market, the local unit opened strongly at 82.32 against the dollar and traded in a range of 82.30 and 82.62. And it finally settled at 82.62 (temporary) against the American currency, a decrease of EGP 25 from the previous close.

This is the third consecutive day of decline in the rupee.

On Tuesday, and rupee It settled at 82.37 against the US dollar.

Meanwhile, the dollar index rose 0.43 percent to 104.04.

Brent crude futures rose 0.46 percent to $77.81 a barrel.

On the domestic stock market front, BSE Sensex It decreased by 344.29 points, or 0.59 percent, to 57,555.90 points, while the NSE Nifty It fell 71.15 points, or 0.42 percent, to 16,972.15 points.

Foreign institutional investors (FIIs) remained net sellers in the capital markets on Tuesday as they unloaded shares worth Rs 3,086.96 crore, according to exchange data.

In contrast to domestic market indicators, global markets were mostly optimistic on expectations of a slower rate hike by the US Federal Reserve on the back of lower inflation.

In February, the US consumer price index came in largely in line with expectations at 6 percent.