Business

Rupee Falls 12 Paise To 82.90 Against US Dollar

The rupee depreciated 12 paise to 82.90 against the US dollar in early trade on Wednesday, weighed down by a strong American currency after the US inflation data for January stoked worries that the Federal Reserve will keep interest rates higher for longer. A muted trend in domestic equities and firm crude oil prices further dented investor sentiments, forex traders said.

At the interbank foreign exchange, the domestic unit opened weak at 82.90 against the dollar, registering a decline of 12 paise over its last close.
In the previous session on Tuesday, the rupee settled at 82.78 against the dollar. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.14 per cent to 103.38.

Brent crude futures, the global oil benchmark, declined 0.70 per cent to USD 84.98 per barrel. “In the overseas markets, the dollar index rebounded from lows of the session as data for January showed the smallest annual increase in US consumer prices since October 2021, which did not alter market expectations that interest rates will remain elevated for some time,” said Sriram Iyer, Senior Research Analyst at Reliance Securities.

Also read: “We’re Aware Of The facts, But I’m Just Not In A Position To Offer A Judgment,” US On BBC Raid

Data showed US CPI rose 6.4 per cent in the 12 months through January, the smallest gain since October 2021.
In the domestic equity market, the 30-share BSE Sensex was trading 265.2 points or 0.43 per cent lower at 60,767.06. The broader NSE Nifty declined 69.85 points or 0.39 per cent to 17,860.00.
Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Tuesday as they purchased shares worth Rs 1,305.30 crore, according to exchange data

Bharat Express English

Recent Posts

Hina Khan Hails 11 Years Of PM Modi’s Leadership; Highlights National Progress

As the nation marks 11 years under PM Modi's leadership, actress Hina Khan shares her…

2 hours ago

Subhash Ghai Hails PM Modi’s Transformative Vision For India

Subhash Ghai has praised PM Narendra Modi’s leadership for catalysing India’s growth and changing the…

3 hours ago

India & Central Asia Boost Rare Earth Cooperation At Delhi Meet

India and five Central Asian nations have agreed to deepen cooperation on rare earths and…

3 hours ago

PM Modi’s Beej Se Bazaar Tak Vision Reshapes Indian Agriculture

Prime Minister Modi has redefined Indian agriculture with the ‘Beej Se Bazaar Tak’ vision, transforming…

4 hours ago

EV Sales Cross 4% Mark In May; Signalling Steady Shift To Green Mobility

EV sales topped 4% of passenger vehicle retail in May 2025, signalling growing demand for…

4 hours ago

Self-Reliant Defence Industry Marks India’s Strategic Security Ascent

One year into Modi 3.0, reforms have reduced poverty, strengthened defence, and accelerated the digital…

4 hours ago