MUMBAI: The rupee depreciated 4 paise to 83.17 in opposition to the US greenback in early commerce on Wednesday amid promoting of equities by international traders and an upward motion in crude oil costs. Subdued sentiment within the home fairness markets additionally weighed on the Indian forex, foreign exchange merchants stated.
On the interbank international alternate, the home forex opened at 83.13 and slipped to 83.17 in opposition to the buck, down 4 paise from its earlier shut.
The home forex settled 1 paisa greater at 83.13 on Tuesday.
The range-bound motion within the Indian forex was attributed to traders’ concern over upcoming inflation numbers of India in addition to the US to be launched this week.
In the meantime, the greenback index, which gauges the buck’s power in opposition to a basket of six currencies, was buying and selling 0.02 per cent decrease at 102.26 on Wednesday.
Brent crude futures, the worldwide oil benchmark, rose 0.23 per cent to USD 77.77 per barrel.
Within the home fairness market, 30-share benchmark Sensex was buying and selling 28.34 factors, or 0.04 per cent, decrease at 71,357.87. The broader Nifty fell 7.85 factors, or 0.04 per cent, to 21,537.
International institutional traders (FIIs) offered shares value Rs 990.90 crore on Tuesday, in keeping with alternate information.