Rupee weakens against the dollar in early trade

29 Mar 2023 , 10:39 AM

Due to rising crude oil prices and a stronger dollar in international markets, the rupee lost 10 paise to open at 82.26 against the US dollar on Wednesday. Nonetheless, early gains in the domestic stock markets limited the rupee’s decline against the dollar.

The rupee depreciated against the previous closing of 82.16 to open lower at 82.26 on the interbank foreign currency market.

In early Asian trading, the dollar index, which measures the strength of the dollar against a basket of six different currencies, rose 0.15% to 102.58.

Brent crude futures, the benchmark for all crude oil, increased by 0.19% to USD 78.80 a barrel.

The 30-share BSE Sensex increased by 123.64 points or 0.21% to 57,737.36 on the domestic equities market, while the NSE Nifty increased by 53.70 points or 0.32% to 17,005.40 in early activity.

According to exchange data, Foreign Institutional Investors (FIIs) changed from net sellers to buyers on Tuesday, purchasing shares worth Rs1,531.13 crore.

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