Rupee gains 9 paise to 82.69 against US dollar

The rupee appreciated 9 paise to 82.69 against the US dollar in early trade on Tuesday as crude oil prices retreated from higher levels. Forex traders said sustained foreign fund outflows weighed on investor sentiment and restricted the appreciation bias.

At the interbank foreign exchange, the domestic unit opened at 82.69 against the dollar, registering a rise of 9 paise from its previous close.

On Monday, the rupee had depreciated 17 paise to close at 82.78 against the US dollar.

Read also: Rupee ends 2022 as worst performing Asian currency: Report

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.03 per cent to 103.55.

Global oil benchmark Brent crude futures fell 0.30 per cent to $85.65 per barrel.

“India December Manufacturing PMI eased to 57.8 from 55.7 in November,” IFA Global Research Academy said in a research note. This shows that the economy is still resilient, as evidenced by other high-frequency indicators such as car sales and core sector data. Even clearer than that.” ,

Rupee is likely to trade in the range of 82.55-82.85 with a sideways price action.

Read also: How is the rupee against the dollar

In the domestic equity market, the 30-share BSE Sensex was trading 24.82 points or 0.04 per cent lower at 61,142.97. The broader NSE Nifty fell 5.25 points, or 0.03 per cent, to 18,192.20.

Foreign institutional investors (FIIs) were net sellers in the capital market on Monday as they offloaded shares. 212.57 crore, as per exchange data.

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