Rupee slips 2 paise to 83.25 against U.S. dollar in early trade

Rupee slips 2 paise to 83.25 vs US$ on firm greenback, weak equity markets. Oil prices recover from overnight losses, Brent crude up 0.40% at $77.73/barrel. BSE Sensex down 0.14%, Nifty down 0.05%. FIIs net buyers, buying shares worth ₹957.25 crore.

The rupee slipped by 2 paise to 83.25 against the U.S. dollar on Friday as a firm greenback in the overseas markets weighed on investor sentiments.

At the interbank foreign exchange market, the rupee opened flat at 83.23 against the U.S. currency following overnight losses in crude oil prices.

However, a firm U.S. dollar and weak domestic equity markets restricted the rupee movement and the local currency edged lower by 2 paise to 83.25 in early trade.

The rupee closed at 83.23 against the greenback on Thursday.

The dollar index, which gauges the greenback's strength against a basket of six currencies, was flat at 104.35.

Brent crude futures, the global oil benchmark, recovered from overnight losses to trade higher by 0.40% at $77.73 per barrel. Indian basket oil futures were down 0.85% at $83.09 per barrel.