The rupee closed 25 paise lower at 82.62 against the US dollar

This is the third day in a row that the rupee has depreciated. (File)


The rupee fell 25 paise to 82.62 (preliminary) against the US dollar today amid a strong greenback against major foreign currencies and continued foreign fund outflows.

Traders said that the negative sentiment in the domestic stock market also affected the national currency.

In the interbank currency, the domestic unit opened at 82.32 per dollar and traded in the range of 82.30 and 82.62. It finally settled at 82.62 (provisional) against the US currency, down 25 paise from its previous close.

This is the third day in a row that the rupee has depreciated.

On Tuesday, the rupee was trading at 82.37 against the US dollar.

At the same time, the dollar index, which shows the strength of the dollar against a basket of six currencies, increased by 0.43 percent and reached 104.04.

The world futures of Brent oil rose by 0.46 percent to $77.81 per barrel.

In the domestic equity market, the 30-share BSE Sensex was down 344.29 points, or 0.59 percent, at 57,555.90, while the broader NSE Nifty was down 71.15 points, or 0.42 percent, at 16,972.15.

Foreign institutional investors (FIIs) remained net sellers in the capital markets on Tuesday as they issued shares worth Rs 3,086.96 crore, stock exchange data showed.

In contrast to domestic market benchmarks, global markets were largely positive on expectations of a slower interest rate hike by the US Federal Reserve as inflation eased.

In February, the US consumer price index was in line with expectations at 6%.

(Except for the headline, this story was not edited by NDTV staff and was published on a syndicated channel.)

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