Rupee falls 21 paise to 81.38 against US dollar

NewsDrum Desk
23 Jan 2023
Rupee falls 21 paise to 81.38 against US dollar

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Mumbai: The rupee fell 21 paise to close as 81.38 (provisional) against the US dollar on Monday amid rise in crude prices.

However, strong sentiment at domestic equities market and a weak dollar restricted the fall of the local currency, forex traders said.

At the interbank foreign exchange market, the rupee opened stronger at 80.92 to a dollar against the previous close of 81.17. The local unit moved in a range of 81.47 to 80.93 during the day.

On Friday, the rupee had appreciated by 19 paise to close at 81.17 against the US dollar.

Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.35 per cent to 101.66 amid concerns over US economic growth.

The Brent crude rose 0.26 per cent to USD 87.86 per barrel.

On the domestic equity market front, the 30-share BSE Sensex rose by 319.90 points or 0.53 per cent to 60,941.67, while the broader NSE Nifty gained 90.90 points or 0.5 per cent to settle at 18,118.55.

Foreign Institutional Investors (FIIs) were net sellers in the capital market on Friday as they sold shares worth Rs 2,002.25 crore, according to exchange data.

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