Qatar World Cup 2022Portugal beats Uruguay 2-0, qualifies for round of 16

Rupee falls 38 paise to 81.78 against U.S. dollar

The rupee settled 33 paise higher at 81.40 against the dollar on Friday.

October 03, 2022 09:56 am | Updated 09:56 am IST - Mumbai

Photo used for representation purpose only.

Photo used for representation purpose only. | Photo Credit: Reuters

The rupee depreciated 38 paise to 81.78 against the US dollar in early trade on October 3, 2022, tracking a muted trend in domestic equities and risk-off sentiment among investors.

Besides, surging crude prices in the international market impacted the domestic unit, traders said.

At the interbank foreign exchange, the local currency opened weak at 81.65 against the dollar, then lost further ground to quote at 81.78, registering a loss of 38 paise over its previous close.

The rupee settled 33 paise higher at 81.40 against the dollar on Friday.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.04% to 112.08.

Brent crude futures, the global oil benchmark, surged 2.77% to $87.50 per barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 66.60 points or 0.12 per cent lower at 57,360.32, and the broader NSE Nifty fell 12.90 points or 0.08 per cent to 17,081.45.

After infusing funds in the last two months, foreign investors turned sellers again in September, and pulled out ₹7,600 crore from the Indian equity markets amid a hawkish stance by the US Fed and sharp depreciation in the rupee.

Top News Today

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.