<p>The rupee depreciated 13 paise to 82.84 against the US dollar in early trade on Tuesday amid the withdrawal of foreign funds from domestic equities and firm crude oil prices.</p><p>Positive sentiment in the equity markets failed to provide support to the Indian currency facing pressure due to the elevated level of greenback, forex traders said.</p><p>At the interbank foreign exchange, the domestic unit opened at 82.78, then touched the lowest level of 82.84 against the American currency, registering a decline of 13 paise over its last close.</p>.<p>On Monday, the rupee had settled at 82.71 against the dollar.</p><p>Gaurang Somaiya, forex and bullion analyst at Motilal Oswal Financial Services, said, "Volatility in rupee remained low following lack of cues on the domestic as well as global front."</p><p>In the next couple of sessions, services PMI number from major economies will likely trigger a move for the rupee.</p>.<p>"Today, the focus will be on the services PMI number that will be released from the Euro zone and the UK. The better-than-expected economic number could lift the major crosses higher. We expect the USDINR (Spot) to trade sideways with a negative bias and quote in the range of 82.30 and 82.80," Somaiya said.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell marginally by 0.01 per cent to 104.23.</p><p>Brent crude futures, the global oil benchmark, was trading 0.04 per cent lower to $88.96 per barrel.</p>.<p>In the domestic equity market, the 30-share BSE Sensex was trading 43.46 points or 0.07 per cent higher at 65,671.60. The broader NSE Nifty advanced 17.85 points or 0.09 per cent to 19,546.65.</p><p>Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday as they offloaded shares worth Rs 3,367.67 crore, according to exchange data.</p>
<p>The rupee depreciated 13 paise to 82.84 against the US dollar in early trade on Tuesday amid the withdrawal of foreign funds from domestic equities and firm crude oil prices.</p><p>Positive sentiment in the equity markets failed to provide support to the Indian currency facing pressure due to the elevated level of greenback, forex traders said.</p><p>At the interbank foreign exchange, the domestic unit opened at 82.78, then touched the lowest level of 82.84 against the American currency, registering a decline of 13 paise over its last close.</p>.<p>On Monday, the rupee had settled at 82.71 against the dollar.</p><p>Gaurang Somaiya, forex and bullion analyst at Motilal Oswal Financial Services, said, "Volatility in rupee remained low following lack of cues on the domestic as well as global front."</p><p>In the next couple of sessions, services PMI number from major economies will likely trigger a move for the rupee.</p>.<p>"Today, the focus will be on the services PMI number that will be released from the Euro zone and the UK. The better-than-expected economic number could lift the major crosses higher. We expect the USDINR (Spot) to trade sideways with a negative bias and quote in the range of 82.30 and 82.80," Somaiya said.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell marginally by 0.01 per cent to 104.23.</p><p>Brent crude futures, the global oil benchmark, was trading 0.04 per cent lower to $88.96 per barrel.</p>.<p>In the domestic equity market, the 30-share BSE Sensex was trading 43.46 points or 0.07 per cent higher at 65,671.60. The broader NSE Nifty advanced 17.85 points or 0.09 per cent to 19,546.65.</p><p>Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday as they offloaded shares worth Rs 3,367.67 crore, according to exchange data.</p>
