Rupee falls 7 paise in early trade

At the interbank foreign exchange, the rupee opened at 79.90 against the US dollar, then fell to 79.92 against the greenback.

The rupee depreciated 7 paise to 79.92 against the US dollar in opening trade on Friday, July 22, 2022, tracking the strength of the dollar in the overseas market and firm crude oil prices.

At the interbank foreign exchange, the rupee opened at 79.90 against the US dollar, then fell to 79.92 against the greenback, registering a decline of 7 paise over the last close.

On Thursday, the rupee recovered from its all-time low of 80.06 to close 20 paise higher at 79.85 against the US dollar following overall weakness in crude oil prices and fresh foreign fund inflows.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was up 0.01 per cent at 106.92.

Global oil benchmark Brent crude futures advanced 1 per cent to USD 104.90 per barrel.