Rupee ended 12 paise lower from its previous close at 81.36 vs dollar on Thursday. Earlier in the session, the rupee fell by 14 paise to 81.38 vs dollar amid steadiness in the value of greenback against a basket of six peers. Crude oil benchmarks traded lower on Thursday. On Wednesday, rupee ended 52 paise higher from its previous close, at 81.24 vs dollar, its highest closing level since December 1, 2022.
The dollar index — which measures the American currency against the yen, the pound, the Canadian dollar, the Swedish krona, the Swiss franc and the euro — was trading flat at 102.1.
Crude oil prices rose on Thursday as fears of recession in US outweighed optimism about China demand recovery. Brent crude futures were trading one percent lower at $84.1 per barrel at the last count. WTI futures, too, were trading 1.2 percent lower at $78.8 per barrel at the last count.
"USD is likely to remain under pressure due to weaker US economic data and a long streak of FDI flows. There would be volatile sessions ahead, with resistance near 81.75 to 82.00. Whereas, support is located near the 81.20-30 zone. By any chance, if the pair breaches the support then it could move towards 80.80-80.50 levels," said Amit Pabari of CR Forex.
Indian equity benchmarks BSE Sensex and NSE Nifty50 ended with minor cuts on Thursday.
First Published: Jan 19, 2023 9:26 AM IST
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