Rupee Falls 14 paise; Closes at 82.75 against US Dollar

MUMBAI: The Indian currency on the first day of trading in 2023 plunged by 14 paise against the US Dollar. The depreciation comes against the backdrop of rising crude oil prices and sustained foreign fund outflows.

At the interbank foreign exchange market, the Rupee opened lower at 82.66 against the greenback and witnessed an intra-day high of 82.56 and a low of 82.78. On the last trading of 2022, the domestic unit had settled at 82.61.

Meanwhile, the Dollar index that gauges the strength of the US Dollar against the basket of 6 currencies was trading at 0.30 percent lower at 103.52. The Brent crude futures rose 2.94 percent to USD 85.91 per barrel.

The retail market in India recorded a light dip in the prices of gold on January 2 with 10 grams of the 22-carat gold trading at Rs 50,600 down by Rs 150 and 24-carat gold, also in 10 grams down by Rs 150, trading at Rs 55,200. The price of 1kg of silver saw no change in its price from yesterday and is recorded at Rs 71,300 in the retail market.

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