Indian rupee rises against UAE dirham

However, persistent foreign capital outflows capped the gains of the rupee, forex traders said



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by

A Staff Reporter

Published: Wed 19 Oct 2022, 9:07 AM

The Indian rupee appreciated six paise to 82.34 against the US dollar (22.43 versus the UAE dirham) in early trade on Wednesday as a firm trend in Indian equities strengthened investor sentiment.

However, persistent foreign capital outflows capped the gains of the rupee, forex traders said.

At the Indian interbank foreign exchange, the rupee opened strong at 82.32 against the dollar, then lost some ground to quote at 82.34, a gain of six paise over its previous close.

In the previous session on Tuesday, the rupee slipped 10 paise to end at 82.40 against the dollar.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.06 per cent to 112.06.

Brent crude futures, the global oil benchmark, rose 0.59 per cent to $90.56 per barrel.

In the Indian equity market, the 30-share BSE Sensex was trading 258.72 points or 0.44 per cent higher at 59,219.32.

Similarly, the broader NSE Nifty rose 69.30 points or 0.40 per cent to 17,556.25.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs1.53 billion on Tuesday, according to exchange data.

(With inputs from PTI)

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