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Business News/ Markets / Commodities/  Rupee ends 4 paise lower at 82.64 against US dollar

The Indian rupee depreciated 4 paise against the US dollar on Monday, tracking a strong American currency against major rivals overseas. The local unit closed at 82.64 per dollar, registering a fall of 4 paise over its previous close of 82.60 against the US currency.

The rupee opened strong at 82.57 against the US dollar and during intra-day it touched the peak of 82.51 and the lowest level of 82.67.

However, a strong gains in domestic equities and foreign capital inflows restricted the decline in the domestic unit.

Meanwhile, the dollar strengthened as investors were upbeat on the tentative agreement between US President Joe Biden and Republican House Speaker Kevin McCarthy on the debt ceiling.

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.02 per cent to 104.23.

Crude oil prices declined as the global oil benchmark Brent crude fell 0.31% to $76.71 a barrel, while US West Texas Intermediate crude was at $72.56 a barrel, down 0.15%.

On the domestic front, the Indian equity market ended higher led by positive global cues. The Sensex rallied 344.69 points, or 0.55%, to close at 62,846.38, and the Nifty ended at 18,598.65, up 99.30 points, or 0.54%.

On Friday,  the Foreign Institutional Investors (FIIs) net bought Indian shares worth 350.15 crore, while Domestic Institutional Investors (DIIs) net purchased Indian equities worth 1,840.98 crore.

(With PTI inputs)

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Updated: 29 May 2023, 04:08 PM IST
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