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    Rupee falls 1 paisa to 82.10 against US dollar

    Synopsis

    The rupee opened at 82.13 against the US dollar and fell 1 paisa to trade at 82.10 in early trade on Wednesday, due to an upswing in the greenback and FIIs withdrawing foreign funds from domestic equities. An increase in crude oil prices also pushed down the Indian currency. Forex traders believe the rupee may slip below 82.04, which could make 81.9 vulnerable again. Meanwhile, the BSE Sensex climbed 185.17 points to trade at 63,512.87, while the NSE Nifty advanced 38.75 points to trade at 18,855.45.

    Rupee falls 1 paisa to 82.10 against US dollarIANS
    The rupee slipped by 1 paisa to 82.10 against the US dollar in early trade on Wednesday, tracking the strong dollar and withdrawal of foreign funds from domestic equities. An upward movement in crude price also weighed on the local unit, forex traders said.

    At the interbank foreign exchange, the domestic unit opened lower at 82.13 but regained further to touch the peak of 82.07. The currency later turned flat and traded at 82.10 against the greenback, registering a fall of 1 paisa from its previous close.

    On Tuesday, the rupee settled at 82.09 against the dollar.

    "Upswings went soft after achieving the objective of 82.15, which we have been playing for the last two days. We are encouraged to pursue extended upsides aiming 82.2-82.25, and would rather do that on dips, but slippage past 82.04 may make 81.9 vulnerable again," Anand James, Chief Market Strategist at Geojit Financial Services, said in his USD-INR outlook.

    Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was up 0.02 per cent at 102.57.

    Crude oil price benchmark Brent crude was trading 0.26 per cent higher at USD 76.10 per barrel.

    In the domestic equity market, the 30-share BSE Sensex advanced 185.17 points or 0.29 per cent to 63,512.87, while broader NSE Nifty inched up 38.75 points or 0.21 per cent to 18,855.45.

    Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday as they sold shares worth Rs 1,942.62 crore, according to exchange data.



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    (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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