Rupee falls 14 paise to close at 82.84 against U.S. dollar

The rupee opened at 82.77 against the U.S. dollar and finally settled for the day at 82.84 (provisional), registering a fall of 14 paise over its previous close of 82.70

The rupee depreciated 14 paise to close at 82.84 (provisional) against the U.S. currency on Friday as the strength of the American currency in the overseas market and a muted trend in domestic equities weighed on investor sentiments.

At the interbank foreign exchange market, the rupee opened at 82.77 against the greenback and finally settled for the day at 82.84 (provisional), registering a fall of 14 paise over its previous close of 82.70.

During the session, the domestic unit witnessed an intra-day high of 82.73 and a low of 82.85 against the American dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.59% higher at 104.47.

Global oil benchmark Brent crude futures declined 1.75% to $83.65 per barrel.

According to Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, the Indian rupee depreciated on risk-off sentiments in global markets and a strong U.S. dollar.

"Dollar strengthened as robust economic data from the U.S. raised expectations that the U.S. Federal Reserve may hold interest rates higher for longer to tame inflation," Mr. Choudhary said.