Rupee falls 5 paise to close at 82.23 against U.S. dollar

During intra-day, Rupee touched the peak of 82.21 and hit the lowest level of 82.29 against the dollar

The rupee depreciated 5 paise to close at 82.23 (provisional) against the U.S. dollar, tracking surging crude oil prices and a strong greenback against major rivals overseas.

Besides, month-end dollar demand from importers and foreign capital outflows weighed on the local currency, which found some cushion at a lower level due to positive sentiment in the domestic equity markets, Forex traders said.

At the interbank foreign exchange, the domestic unit opened at 82.23. It finally settled at 82.23 (provisional) against the American currency, registering a fall of 5 paise against its previous close.

During intra-day, the Indian unit touched the peak of 82.21 and hit the lowest level of 82.29 against the dollar.

On Friday, the rupee had settled at 82.18 against the dollar.

Traders were also upbeat on the dollar following positive macroeconomic data from the U.S. and robust sentiment in the global markets.

According to Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, the rupee declined on the strong US dollar and elevated crude oil prices.