Rupee rises 8 paise to close at 82

Rupee rises 8 paise to close at 82.09 against US dollar

Rising for the second straight session, the rupee appreciated 8 paise to close at 82.09 (provisional) against the US dollar on Friday, supported by softening crude oil prices in the international markets.

However, a muted trend in domestic equities and foreign fund outflows capped the gains in the rupee, traders said.

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On Thursday, the rupee closed at 82.17 against the US currency.

The Indian currency has gained 15 paise in the past two trading sessions, even though the participants traded cautiously due to expectations of further interest rate hikes by the US Federal Reserve and other central banks.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.05 per cent to 101.89.

Global oil benchmark Brent crude futures declined 0.15 per cent to USD 80.98 per barrel.

On the domestic equity market front, the 30-share BSE Sensex inched up 22.71 points or 0.04 per cent to end at 59,655.06, and the broader NSE Nifty closed 0.40 points down at 17,624.05.

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Foreign Institutional Investors (FIIs) were net sellers in the capital market on Thursday as they offloaded shares worth Rs 1,169.32 crore, according to exchange data.