Indian rupee slips against UAE dirham

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.15 per cent to 104.54

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A Staff Reporter

Published: Mon 19 Dec 2022, 9:22 AM

The Indian rupee depreciated two paise to 82.77 against the US dollar (22.55 versus the UAE dirham) in early trade on Monday, weighed down by foreign capital outflows and a rise in crude oil prices.

However, a weak greenback against major rivals cushioned the downside for the South Asian currency, forex dealers said.

At the Indian interbank foreign exchange, the rupee opened weak at 82.80 against the dollar, then gained some ground to quote 82.77, registering a decline of just 2 paise over its previous close.

In the previous session on Friday, the rupee settled almost flat at 82.75 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.15 per cent to 104.54.

Brent crude futures, the global oil benchmark, advanced 1.20 per cent to $79.99 per barrel.

In the Indian equity market, the 30-share BSE Sensex was trading 67.61 points or 0.11 per cent higher at 61,405.42. The broader NSE Nifty rose 14.65 points or 0.08 per cent to 18,283.65.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday as they offloaded shares worth Rs19.75 billion, according to exchange data.

(With inputs from PTI)

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