Rupee vs US Dollar: INR rises to 82.65 paise versus USD

China's factory activity this month shrank for the fifth consecutive month, while its non-manufacturing activity hit another low for this year. The manufacturing purchasing managers' index was 49.7 in August, as per the data released by China's National Bureau of Statistics on Thursday.

"Indian rupee experienced its second consecutive day of weakening. This decline was prompted by month-end dollar demand by oil companies and corporates. Also, the absence of significant selling in the market kept the pressure on the local unit. Well, apparent intervention from RBI in the second half around 82.80 helped reverse the move. The focus now will be India's GDP figure due for release today. Nonetheless, with the dollar remaining soft, US yields on the fall and FII’s remaining positive, the rupee too shall come in sync in the near term. Overall, the upside in the USDINR pair shall be limited to 82.80-83.00 levels with biases on the downside, the pair is likely to move towards 82.20-82.00 levels as 82.50 is taken out," said Amit Pabari of CR Forex.