Rupee falls 8 paise to 82.12 against US dollar

the rupee Its value fell 8 pounds to 82.12 against the US dollar in early trading on Wednesday, tracking the greenback’s strength in overseas markets.

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, then touched 82.12, recording a decrease of 8 pounds from its last close.

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

Also read: Weekly Rupee View: The rupee is at a crucial juncture

The rupee opened slightly lower as the Reserve Bank of India (RBI) continues its US dollar buying spree to below 82, said Anil Kumar Bhansali, Head of Treasury and CEO of Finrex Treasury Advisors LLP.

The dollar index, which measures the dollar’s strength against a basket of six currencies, rose 0.07 percent to 100.01 on the back of upbeat retail sales data from the United States.

Brent crude futures, the global oil benchmark, fell marginally by 0.31 percent to $79.38 a barrel.

On the domestic stock market, 30-share BSE Sensex It was trading at 235.46 points, up 0.35 percent, at 67,030.60 points. broader NSE elegant It advanced 56.85 points, or 0.29 percent, to 1,906.10 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.