Early on Thursday, the rupee lost 15 paise to trade at 81.45 against the US dollar as a result of foreign investment withdrawals and a flattened trend in domestic stocks. The local unit opened negatively at 81.45 against the dollar on the interbank foreign exchange, falling 15 paise from its previous level.
The rupee also reached an early high of 81.27 against the US dollar during beginning trade.
The rupee’s value versus the US dollar was fixed at 81.30 during the previous session on Wednesday.
The dollar index, which measures the strength of the dollar against a basket of six different currencies, decreased 0.09 percent to 102.26.
The benchmark for world oil, Brent crude futures, fell 1.18 percent to $83.98 per barrel.
Due to concerns about the state of the world economy, forex traders anticipate a modest bias against the rupee.
The executive director of the IMF, Gita Gopinath, foresaw a challenging year for the world economy in 2023. According to Gita Gopinath of the IMF, the world economy is in a unique predicament as a result of historically high inflation, which is creating conflict between monetary and fiscal policies.
The 30-share BSE Sensex was trading 140.49 points, or 0.23 percent, lower at 60,905.25 on the domestic equity market. The NSE Nifty, which is more inclusive, dropped 65.45 points or 0.36 percent to 18,099.90.
According to exchange data, Foreign Institutional Investors (FIIs) sold shares worth Rs 319.23 crore on Wednesday, making them net sellers in the capital markets.
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