Rupee fell by 17 paise from its previous close at 82.46 on Wednesday. The currency was under pressure due to the rise in the value of greenback against a basket of six peers. However, global crude oil prices eased pressure from the Indian currency.
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 last trading 0.8 percent higher at 103.4.
Crude oil prices fell marginally in the early hours on Thursday. Brent crude futures rose 0.6 percent to $82.1 per barrel at the last count. WTI futures too rose and were trading 0.7 percent higher at $76.6 per barrel at the last count.
"The Indian Rupee majorly remained unaffected. In an initial reaction to the Fed policy, it was seen depreciating to 82.64, before retracing back to 82.50 levels. It would be a flat opening for the day and the likely range would be 82.10 to 82.80," said Amit Pabari, Managing Director at CR Forex.
"The RBI has been resilient concerning the Indian Rupee’s recent volatility but could start rescue operations to finish the Calendar Year on a good note. Thus, the uptick could be restricted up to 82.75 to 83.00 levels, and correction below 82.00 and a move towards 81.50-81.20 seems very much likely on the card."
Indian equity benchmarks BSE Sensex and NSE Nifty50 started flat on Thursday tracking largely negative cues across global markets.
First Published: Dec 15, 2022 9:28 AM IST
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