The rupee depreciated 7 paise to 82.11 against the US dollar in early trade on Wednesday (April 19, 2023), weighed down by firm crude oil prices and a negative trend in domestic equities.

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Forex traders said foreign fund outflows and the strengthening of the American currency in the overseas market dented investor sentiments.

At the interbank foreign exchange, the domestic unit opened weak at 82.10 against the dollar, then fell to 82.11, registering a decline of 7 paise over its last close.

On Tuesday (April 18, 2023), the rupee settled at 82.04 against the dollar.

The dollar index — which gauges the dollar against six currencies other than the rupee — was last seen trading 0.06 per cent higher at 101.80. The index compares the dollar to the yen, the pound, the Canadian dollar, the Swedish krona, the Swiss franc and the euro.

Meanwhile, Brent crude futures, the benchmark for crude oil, decreased by 0.229 per cent to $84.58 a barrel. 

In the domestic equity market, the 30-share BSE Sensex was trading 115.63 points or 0.19 per cent lower at 59,610.92 while the broader NSE Nifty was 25.00 points or 0.14 per cent down at 17,635.15 at 10.30 AM IST on Wednesday,

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday as they offloaded shares worth Rs 810.60 crore, according to exchange data.

With PTI inputs