Rupee falls 3 paise to 82.70 against US dollar

the rupee Its value fell 3 points to 82.70 against the US dollar in early trading on Wednesday, tracking the greenback’s strength against major competitors abroad and weak sentiment in domestic and global equity markets.

Forex traders said that crude oil is trading below $75 a barrel and that foreign money inflows have failed to support the Indian currency.

The dollar was trading as high as 104 as the positive development in the US debt ceiling bill boosted investor sentiment. However, respondents were also concerned about the payroll data that will be released on Friday.

In the interbank foreign exchange market, the local unit opened weak at 82.71 against the dollar. The currency reached the lowest level at 82.73 and touched the top at 82.68 before trading at 82.70, down 3 piasters from its previous close.

On Tuesday, the rupee closed at 82.67 against the greenback.

Meanwhile, the dollar index, which measures the strength of the greenback against a basket of six currencies, rose 0.14 percent to 104.32.

Brent crude futures, the global oil benchmark, fell 0.26 percent to $73.35 a barrel.

In the domestic stock market, 30 shares BSE Sensex It fell 235.47 points, or 0.37 percent, to 62,733.66 points. the widest NSE Nifty It fell 76 points, or 0.41 percent, to 18,557.85 points.

Foreign Institutional Investors (FIIs) They were net buyers in the capital market on Tuesday buying shares worth Rs 2,085.62 crore, according to exchange data.