Indian rupee slips against UAE dirham

Sustained foreign fund outflows further dented investor sentiments, forex traders say

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A Staff Reporter

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Published: Tue 17 Jan 2023, 9:45 AM

The Indian rupee depreciated 31 paise to 81.89 against the US dollar (22.31 versus the UAE dirham) in early trade on Tuesday weighed down by a rebound in American currency and firm crude oil prices. Sustained foreign fund outflows further dented investor sentiments, forex traders said.

At the Indian interbank foreign exchange, the rupee opened weak at 81.79 against the dollar, then fell to 81.89, registering a decline of 31 paise over its last close.


In the previous session on Monday, the rupee settled at 81.58 against the dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.18 per cent to 102.38.


Brent crude futures, the global oil benchmark, advanced 0.19 per cent to $84.62 per barrel.

In the Indian equity market, the 30-share BSE Sensex was trading 280.06 points or 0.47 per cent higher at 60,373.03. The broader NSE Nifty advanced 44.90 points or 0.25 per cent to 17,939.75.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday as they offloaded shares worth Rs7.5 billion, according to exchange data.

(With inputs from PTI)

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