Rupee falls 8 paise to 82.05 against US dollar

The rupee fell 8 pounds to 82.05 against the US dollar in early trading on Friday, tracking the strength of the US currency and the withdrawal of foreign money from local stocks.

Negative sentiments in the domestic and global stock markets also affected the Indian currency. However, forex dealers said that the drop in crude oil prices below $75 a barrel dragged down the domestic unit.

In the interbank foreign exchange market, the local unit opened weak at 82.05 and traded between 82.07-82.04 against the dollar. The currency subsequently traded at 82.05 per dollar, recording a decrease of 8 pounds from its previous close.

Thursday , The rupee settled at 81.97 against the dollar.

Meanwhile, the dollar index rose 0.20 percent to 102.59.

Brent crude, the benchmark for crude oil prices, was trading down 0.69 percent at $73.63 a barrel.

In the local stock market, BSE Sensex fell by 194.96 points, or 0.31 percent, to 63,043.93, while NSE Nifty fell by 70.45 points, or 0.36 percent, to 18,700.80.

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Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Thursday unloading shares worth Rs 693.28 crore, according to exchange data.