Rupee Falls 7 Paise To 82.86 as Dollar Slumps

MUMBAI: The Indian Rupee lost ground to a resurgent dollar on Friday by a sharp sell-off in risky assets.

According to PTI, at the interbank forex the domestic currency fell 7 paise to provisionally close at 82.86 against the US dollar as it slumped slightly.

The dollar was on the front foot on Friday after solid economic data reinforced the need for the Federal Reserve to stay on its aggressive monetary policy tightening path.

On MCX, gold prices were up by nearly Rs 80, to Rs 54,600 per 10 grams. Meanwhile, Silver rates also hiked by over Rs 500 to Rs 6,9032 per kg. Globally, Spot gold was little changed at $1,792.80 per ounce as of 0238 GMT.

Crude oil prices gained on Friday for the fifth straight session amid fall in Russian exports. US storm impact on transport fuel demand also pushed the benchmarks higher. Brent crude futures jumped 1.6 percent to $82.2 per barrel at the last count. WTI futures too rose 1.2 percent to $78.4 per barrel at the last count.

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