<p>The rupee depreciated 9 paise to 74.27 against the US dollar in opening trade on Wednesday, owing to increased demand of the greenback by banks and importers amid strengthening crude prices.</p>.<p>However, positive trend in the domestic equity market and a weak US dollar supported the local unit and capped the fall, forex dealers said.</p>.<p>At the interbank forex market, the rupee opened lower at 74.24 against the US dollar, then slipped further to 74.27 in early deals, registering a fall of 9 paise over its last close.</p>.<p>In the previous session, it had settled 3 paise lower at 74.18 against the US dollar.</p>.<p>Surging crude oil prices in the overseas market added pressure to the domestic unit, dealers said.</p>.<p>Brent crude futures, the global oil benchmark, rose 1.08 per cent to USD 44.08 per barrel.</p>.<p>"Crude gained another 2 per cent, extending its 10 per cent rally of the previous session. The US dollar though has recovered a bit with the Euro and commodity currencies retracing from highs," Abhishek Goenka, Founder and CEO, IFA Global, said.</p>.<p>After touching its lifetime peak of 43,675.59 in the opening session, BSE Sensex was trading 353.60 points or 0.82 per cent higher at 43,631.25.</p>.<p>Similarly, the broader NSE Nifty touched a fresh high of 12,752.90. Later, it was trading with 108.95 points or 0.86 per cent gain at 12,740.05.</p>.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.09 per cent to 92.65.</p>.<p>Foreign institutional investors remained net buyers in the capital market as they purchased shares worth Rs 5,627.32 crore on Tuesday, according to provisional exchange data. </p>
<p>The rupee depreciated 9 paise to 74.27 against the US dollar in opening trade on Wednesday, owing to increased demand of the greenback by banks and importers amid strengthening crude prices.</p>.<p>However, positive trend in the domestic equity market and a weak US dollar supported the local unit and capped the fall, forex dealers said.</p>.<p>At the interbank forex market, the rupee opened lower at 74.24 against the US dollar, then slipped further to 74.27 in early deals, registering a fall of 9 paise over its last close.</p>.<p>In the previous session, it had settled 3 paise lower at 74.18 against the US dollar.</p>.<p>Surging crude oil prices in the overseas market added pressure to the domestic unit, dealers said.</p>.<p>Brent crude futures, the global oil benchmark, rose 1.08 per cent to USD 44.08 per barrel.</p>.<p>"Crude gained another 2 per cent, extending its 10 per cent rally of the previous session. The US dollar though has recovered a bit with the Euro and commodity currencies retracing from highs," Abhishek Goenka, Founder and CEO, IFA Global, said.</p>.<p>After touching its lifetime peak of 43,675.59 in the opening session, BSE Sensex was trading 353.60 points or 0.82 per cent higher at 43,631.25.</p>.<p>Similarly, the broader NSE Nifty touched a fresh high of 12,752.90. Later, it was trading with 108.95 points or 0.86 per cent gain at 12,740.05.</p>.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.09 per cent to 92.65.</p>.<p>Foreign institutional investors remained net buyers in the capital market as they purchased shares worth Rs 5,627.32 crore on Tuesday, according to provisional exchange data. </p>