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| Photo Credit: SUDERSHAN V
The rupee dropped 9 paise to close at 82.85 (provisional) against the U. S. dollar on Friday amid heavy selling pressure in domestic equities and a strong greenback overseas.
However, receding crude oil prices capped the rupee’s loss, forex traders said.
At the interbank foreign exchange market, the rupee opened sharply lower at 82.84 against the greenback and witnessed a high of 82.73 and a low of 82.89.
It finally settled at 82.85 against the greenback, down 9 paise over its previous close of 82.76.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.13% to 104.69.
Brent crude futures, the global oil benchmark, declined 2.29% to $79.35 per barrel.
In the domestic equity market, the 30-share BSE Sensex closed 461.22 points or 0.75% lower at 61,337.81. The broader NSE Nifty fell 145.90 points or 0.79% to 18,269.
Foreign institutional investors (FIIs) turned net sellers in capital markets on Thursday as they offloaded shares worth ₹710.74 crore, according to exchange data.
