Rupee gains 18 paise to 81.08 / $

2 Dec 2022 , 01:15 PM

Aided by a weak dollar in the foreign exchange market, the rupee strengthened 18 paise to 81.08 against the US dollar in early trade on Friday. Forex traders claimed that the local currency was negatively impacted by weak domestic equities and outflows of foreign funds, which limited the inclination for appreciation.

The domestic unit started at 81.11 versus the dollar on the interbank foreign exchange but later increased by more than 18 paise to reach 81.08, up from its previous close. To end the day at 81.26 against the US dollar, the rupee gained four paise on Thursday.

The dollar index, a measure of the dollar’s strength versus a basket of six different currencies, decreased by 0.01 % to 104.71. The 30-share BSE Sensex was down 259.39 points, or 0.41 %, on the domestic equities market, trading at 63,024.80. To 18,740.90, the NSE Nifty lost 71.60 points or 0.38 %

According to exchange data, Foreign Institutional Investors (FIIs) were net sellers on Thursday in the capital markets, selling shares worth Rs. 1,565.93 crore. While this was going on, November’s GST receipts increased by 11% to over Rs 1.46 lakh crore.

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