In the early trade, rupee loses 5 paise to touch 82.29/ $

14 Oct 2022 , 01:07 PM

Despite considerable volatility in early trade on Friday, the rupee lost some of its early gains and fell 5 paise to 82.29 versus the US dollar. The local unit struck 82.12 at the interbank foreign exchange, up 12 paise from its previous closing, after starting the day at 82.26 versus the dollar. The rupee also reached 82.29 versus the dollar during the first round of trading.

The rupee’s value versus the dollar on Thursday had been 82.24. IFA Global Research Academy stated in a research note that the “Dollar rose quickly on the CPI release but experienced a dramatic reversal on short covering in majors,” noting the US headline. The CPI for September came in higher than anticipated at 8.2% YoY (0.4% moy), compared to 8.1% YoY (0.2 % month-on-month).

The dollar index, which measures the strength of the dollar against a basket of six different currencies, decreased by 0.08 % to 112.27. The benchmark for world oil, Brent crude futures, decreased 0.13 % to USD 94.45 a barrel.

The 30-share BSE Sensex increased by 972.8 points or 1.70 % to 58,208.13 on the domestic equities market, while the larger NSE Nifty increased by 273.80 points or 1.61 % to 17,288.15. According to exchange statistics, Foreign Institutional Investors (FIIs) sold shares worth Rs 1,636.43 crore on Thursday, making them net sellers in the capital markets.

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