Rupee falls 10 paise to close at 81.84 against U.S. dollar

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| Photo Credit: S.R. Raghunathan

The rupee pared all its initial gains to settle lower by 10 paise at 81.84 (provisional) against the U.S. currency on Thursday amid a strong greenback overseas.

However, the strong sentiment in the domestic equities market restricted the rupee’s fall, forex traders said.

At the interbank foreign exchange, the domestic unit opened at 81.69 against the dollar and finally closed at 81.84 (provisional), down 10 paise from its previous close.

During the day, the rupee witnessed a high of 81.61 and a low of 81.85 against the greenback.

On Wednesday, the rupee closed at 81.74 against the U.S. currency.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.03% to 101.50.

Brent crude futures, the global oil benchmark, advanced 0.21% to $77.85 per barrel.

On the domestic equity market front, the 30-share BSE Sensex closed 348.80 points or 0.58% higher at 60,649.38 points. The broader NSE Nifty advanced 101.45 points or 0.57% to 17,915.05 points.

Foreign Institutional Investors (FIIs) were net sellers in the capital market on Wednesday as they offloaded shares worth ₹1,257.48 crore, according to exchange data.