Rupee falls 8 paise to 82.68/USD as crude oil price rises

Mumbai, The rupee depreciated 8 paise to 82.68 against the US dollar in early trade on Friday amid a muted trend in domestic equities and rising crude oil prices. However, sustained foreign fund inflows supported the local unit and contained the fall.

At the interbank foreign exchange, the domestic unit opened at 82.68, registering a decline of 8 paise over its last close.

On Thursday, the rupee had settled at 82.60 against the dollar.

Forex traders said participants remained bullish on the greenback due to risk-aversion and rising expectations of hawkish monetary policy by the US Federal Reserve.

Moreover, rising crude oil prices also weighed on the domestic unit.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.04 per cent to 103.12.

Brent crude futures, the global oil benchmark, rose 0.29 per cent to USD 76.74 per barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 47.47 points or 0.07 per cent lower at 65,738.17. The broader NSE Nifty declined 18.40 points or 0.09 per cent to 19,478.90.

Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday as they purchased shares worth Rs 2,641.05 crore, according to exchange data.