Rupee slips 6 paise to close at 81.70 against U.S. dollar

A weak dollar in the overseas market and fresh foreign capital inflows restricted the loss, Forex traders said

November 18, 2022 04:07 pm | Updated 04:10 pm IST - Mumbai

A man counts Indian currency notes inside a shop in Mumbai. File.

A man counts Indian currency notes inside a shop in Mumbai. File. | Photo Credit: Reuters

The rupee depreciated 6 paise to close at 81.70 (provisional) against the U.S. dollar on November 18 amid a lacklustre trend in domestic equities and firming crude oil prices.

However, a weak dollar in the overseas market and fresh foreign capital inflows restricted the loss, Forex traders said.

At the interbank foreign exchange market, the local unit opened up at 81.59 and later erased all its early gains. During the session, it witnessed a high of 81.52 and a low of 81.78.

The domestic unit finally settled at 81.70 against the American currency, registering a fall of 6 paise over its previous close of 81.64.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.28% to 106.39.

Global oil benchmark Brent crude futures rose 0.36% to $90.10 per barrel.

On the domestic equity market front, the 30-share BSE Sensex fell 87.12 points or 0.14% to end at 61,663.48, while the broader NSE Nifty declined 36.25 points or 0.20% to 18,307.65.

Foreign Institutional Investors (FIIs) were net buyers in capital markets as they bought shares worth ₹618.37 crore on Thursday, according to exchange data.

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