Rupee VS. USD: Rupee opens at 82.44, Gains 2 Paise Against USD

12 Jun 2023 , 09:59 AM

The Indian rupee opened steady against the US dollar, showing resilience amidst weak Asian currencies. The local unit opened at 82.44 against the dollar, a marginal increase of 2 paise from Friday’s close.

Asian currencies experienced a decline of 0.2% to 0.4%, while the dollar index rose to 103.58. Last Friday, the rupee closed at 82.46 against the US dollar, recording a gain of 10 paise.

Crude oil prices traded lower due to caution ahead of the US Federal Reserve’s policy decision and concerns about China’s demand and rising Russian crude supply. Brent crude futures fell by 1.18% to $73.91 per barrel, and US West Texas Intermediate (WTI) crude declined by 1.20% to $69.33 per barrel.

The Indian benchmark equity indices, Sensex and Nifty, showed a slight upward movement in pre-opening trade. Foreign institutional investors (FII) sold Indian shares worth Rs.308.97 crore, while domestic institutional investors (DII) purchased shares worth Rs.1,245.51 crore, according to exchange data.

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