Rupee nearly unchanged at 82 against US dollar

The rupee barely appreciated on Tuesday to 82 against the US dollar in early trade on Tuesday (April 18, 2023), tracking a positive trend in domestic equities and weakness in the greenback overseas. The currency had settled at 82.01 on Monday. According to analysts, a sustained rise in crude oil prices and foreign fund outflow in domestic equities limited the upside in the rupee.

At the interbank foreign exchange, the domestic unit opened at 81.99 against the dollar. It went as high as 81.96 and touched the lowest level of 82.02. Later, the rupee was trading at 82, registering a gain of one paisa over its previous close.

The dollar index — which gauges the dollar against six currencies other than the rupee — was last seen trading 0.06 per cent lower at 102.04. 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, increased by 0.19 per cent to $84.92 a barrel. 

In the domestic equity market, the 30-share BSE Sensex was trading 33.64 points or 0.06 per cent higher at 59,944.39. The broader NSE Nifty was up 19.50 points or 0.11 per cent at 17,726.35.

Foreign Institutional Investors (FIIs) turned net sellers in the capital markets on Monday as they offloaded shares worth Rs 533.20 crore, according to exchange data.

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(With inputs from PTI)