Rupee closes at 82.71 against dollar amid muted trend in domestic equities
The rupee pared initial gains and settled 9 paise lower at 82.71 (provisional) against the US dollar on Friday, tracking a rebound in the greenback overseas and a muted trend in domestic equities.
Forex traders said risk aversion in international markets and sustained foreign fund outflows weighed on investor sentiments, even as weak crude oil prices cushioned the downside.
At the interbank foreign exchange market, the rupee opened on a positive note at 82.52 against the greenback, but pared the gains and fell to an intra-day low of 82.75.
The domestic currency finally settled at 82.71, down 9 paise over its previous close of 82.62.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.37 per cent higher at 105.42.
Global oil benchmark Brent crude futures rose 0.74 per cent to USD 79.27 per barrel.
According to Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas, the Indian rupee depreciated on Friday on rebound in US