Rupee falls 12 paise to 82.77 against US dollar
The rupee depreciated for the fourth consecutive day on Thursday and declined by 12 paise to 82.77 (provisional) against the US dollar amid mixed global equity market cues and foreign fund outflows.
Traders said a positive sentiment in the domestic equity market and a weak dollar countered the fall in the Indian currency.
At the interbank foreign exchange, the domestic unit opened lower at 82.77 against the dollar. It traded between 82.60 and 82.80 levels, and closed at 82.77 (provisional) against the American currency, registering a decline of 12 paise over its previous close.
This is the fourth consecutive day of fall in the rupee. On Wednesday, the rupee had closed at 82.65 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.25 per cent to 104.38.
Global oil benchmark Brent crude futures rose 1.23 per cent to $74.60 a barrel.
On the domestic equity market front, the 30-share BSE Sensex advanced 78.94 points, or 0.14 per cent, to 57,634.84, while the broader NSE Nifty advanced 13.45 points, or 0.08 per cent, to 16,985.60.
On Thursday, Asian and European shares were trading on a mixed note against a backdrop of concerns over the health of the global banking system in the wake of bank failures in the US and problems at Swiss major Credit Suisse.
Foreign institutional investors (FIIs) remained net sellers in the domestic capital market on Wednesday, selling shares worth Rs 1,271.25 crore, according to exchange data.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)