Rupee falls 10 paise to open at 82.30 against US dollar
1 min read 17 May 2023, 09:12 AM ISTThe dollar index, which measures the US currency against six rivals, rose 0.01% to 102.61, nearing a five-week high of 102.75 it touched on Monday.
PremiumThe Indian rupee opened 10 paise lower against the US dollar Wednesday as the dollar index hovered around a five-week peak. The local currency opened at 82.30 as compared to the previous close of 82.20 per dollar.
The dollar index, which measures the US currency against six rivals, rose 0.01% to 102.61, nearing a five-week high of 102.75 it touched on Monday.
The Japanese yen weakened 0.05% to 136.47 per dollar, while Sterling was last trading at $1.248, down 0.04% on the day. The euro was muted at 1.0866 per dollar, while the Australian dollar was at $0.6657.
On Tuesday, the Indian rupee closed 10 paise higher against the US dollar amid a weaker dollar and improving economic data. The rupee ended at 82.20 to the US dollar compared with the previous close of 82.30.
Crude oil prices declined as a rise in US crude inventories stoked demand concerns amid weak economic demand from US and China. The WTI crude fell 0.31% to $70.64 per barrel, while the Brent oil was down 0.29% at $74.69.
Meanwhile, Asian shares were subdued on Wednesday as investors remained risk averse, with the US debt ceiling talks and a mixed set of economic data weighing on sentiment.
Indian equity indices Sensex and Nifty traded flat in the pre-opening session amid weakness in global peers.
On Tuesday, the foreign institutional investors (FII) net bought Indian shares worth ₹1,406.86 crore, while teh domestic institutional investors net sold Indian shares worth ₹886.17 crore.
(With inputs from Reuters)
