Rupee slips 6 paise to 81.77 / $

28 Nov 2022 , 11:47 AM

In early trading on Monday, the rupee lost 6 paise to 81.77/ US dollar, following a sluggish trend in domestic equity markets and a strong US dollar abroad. The rupee’s decline was nevertheless restrained, according to forex dealers, by lower crude prices on the global market and new foreign fund inflows.

The domestic currency at the interbank foreign exchange started out weakly against the dollar at 81.81 but later gained some ground and quoted at 81.77, a decline of 6 paise from its previous close. The rupee lost just one paisa against the dollar to conclude the last session on Friday at 81.7.  The dollar index, which measures how strong the dollar is relative to a basket of six different currencies, increased by 0.41 % to 106.39.

The benchmark for world oil, Brent crude futures, fell 2.58 % to USD 81.47 per barrel. The 30-share BSE Sensex was down 27.97 points, or 0.04 percent, at 62,265.67 on the domestic equity market. The larger NSE Nifty dropped 12.45 points, or 0.07 %, to 18,500.30. According to exchange data, Foreign Institutional Investors (FIIs) were net purchasers on Friday in the capital markets, purchasing shares worth Rs 369.08 crore.

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