Mumbai: The rupee fell 5 paise to close at 82.67 against the US currency on Friday, weighed down by a strong greenback overseas and surging crude prices in the international market.
However, a firm trend in domestic equities and persistent foreign capital inflows supported the rupee and restricted the fall, traders said.
At the interbank foreign exchange, the domestic unit opened at 82.71 against the dollar, and finally settled at 82.67, down 5 paise from its previous close.
During the day, the rupee touched a high of 82.64 and a low of 82.80 against the greenback. On Thursday, the rupee had settled at 82.62 against the dollar. The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.32 per cent to 103.25.
“Indian rupee fell to a two-month low on overnight surge in the US Dollar and positive crude oil prices. However, late recovery in domestic equities and FII inflows prevented a sharp fall in the rupee,” said Anuj Choudhary - Research Analyst, Sharekhan by BNP Paribas.
Hawkish statements from the US Federal Reserve officials also supported the greenback. There are rising odds that the Fed may continue to hike interest rates in its June FOMC meeting to tame
inflation.