Rupee drops 12 paise to 81.86 / $

21 Nov 2022 , 01:43 PM

Early on Monday, the rupee sank 12 paise to trade at 81.86 against the US dollar, following the foreign exchange market’s strength for the US dollar and a flat local equity market. The local unit started trading at 81.84 versus the dollar on the interbank foreign exchange but lost ground and dropped to 81.86, losing 12 paise from its previous finish.

The rupee lost 10 paise on Friday, falling to 81.74 against the US dollar at the closing. The dollar index, which measures the dollar’s strength against a basket of six different currencies, increased by 0.25 % to 107.19. The 30-share BSE Sensex was down 468.58 points, or 0.76 %, at 61,194.90 on the domestic equities market, and the larger NSE Nifty was down 146.20 points, or 0.80 %, at 18,161.45.

According to exchange data, Foreign Institutional Investors (FIIs) sold shares worth Rs 751.20 crore on Friday, making them net sellers in the capital markets. In the week ending November 11, India’s foreign exchange reserves increased by USD 14.72 billion, the largest weekly increase since August 2021, to reach USD 544.72 billion.

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