Rupee falls 9 paise to 79.71 / dollar

12 Aug 2022 , 12:32 PM

The rupee lost 9 paise to 79.71 against the US dollar in Friday’s opening trading, following the strength of the US dollar on the international market and rising crude oil prices.

At the interbank foreign exchange, the rupee began at 79.67 versus the dollar before falling further to 79.71, losing 9 paise from the previous level. To end the day at 79.62 versus the US dollar, the rupee lost 37 paise on Thursday.

Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, reports that despite a decline in the dollar index and an increase in Asian currencies, the Indian rupee declined on Thursday due to the government, defense, and oil industries’ significant purchases of the US dollar.

The dollar index, which measures how strong the dollar is relative to a basket of six different currencies, increased 0.11 % to 105.20. While this was happening, the benchmark Brent crude price fell by 0.48 % to US$99.12 per barrel.

The 30-share Sensex was down 189.59 points, or 0.32 %, at 59,143.01 points on the domestic equities market, while the larger NSE Nifty was down 42.75 points, or 0.24 %, at 17,616.25.

According to exchange statistics, foreign institutional investors continued to be net purchasers on Thursday, buying shares worth Rs2,298.08 crore.