Rupee falls 6 paise to close at 82.10 against US dollar

the rupee Its price decreased by 6 pounds to close at 82.10 (temporary) against the US dollar on Wednesday, affected by the rebound of the US currency in global markets and the stability of crude oil prices.

Traders said local equity metrics are at all-time highs and continued inflows of foreign money have boosted investor sentiment and curbed the writedown bias.

In the interbank foreign exchange market, the local unit opened at 82.08 against the dollar and settled at 82.10 (temporary), down 6 pounds from its previous close. During the day, the rupee touched a high of 82.07 and a low of 82.15 against the dollar.

On Tuesday, and The rupee settled at 82.04 against the dollar.

The dollar index, which measures the greenback’s strength against a basket of six currencies, rose 0.24 percent to 100.17.

Brent Crude FuturesThe global oil index rose 0.50 percent to $80.03 a barrel.

“In line with the weakness in regional currencies, the rupee has fallen in value, after two days of gains as crude oil prices rebounded,” said Dilip Parmar, Research Analyst, HDFC Securities.

The dollar index also recovered as traders assessed US interest rate expectations ahead of next week’s policy decision, Parmar said, adding that in the near term, spot USDINR is expected to trade in a range of 82 to 82.30.

In terms of the local stock market, the BSE Sensex index, which includes 30 shares, closed up 302.30 points, or 0.45 percent, at 67,097.44 points. The broader NSE Nifty index advanced 83.90 points, or 0.42 percent, at 19,833.15 points.

foreign institutional investors (FIIs) were net buyers in the capital markets on Tuesday buying shares worth Rs 2,115.84 crore, according to exchange data.