Mumbai: The Indian rupee today ended 29 paise lower at 82.60 against the US dollar and 22.48 UAE dirham, weighed down the broader strength of the American currency and surging oil prices. At the interbank foreign exchange, the rupee opened at 82.47 against the dollar, and depreciated 29 paise to finally settle at 82.68 (provisional) as against its Friday’s close of 82.39.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.24% to 104.26. further, the Reserve Bank of India may face growing pressure to defend a key level for the rupee as its interest-rate pause looks set to weigh on the currency.
The rupee is poised to test the 83-per dollar mark in the near term, after RBI’s foreign reserve stockpile of RBI swelled to almost $600 billion in May.
In the Indian equity market, the 30-share BSE Sensex was trading 230.95 points or 0.37 per cent higher at 62,778.06.
The seasonally adjusted S&P Global India Manufacturing Purchasing Managers Indiex (PMI) rose from 57.2 in April to 58.7 in May. On the domestic equity market front, the 30-share BSE sensec advanced 118.57 points or 0.19 per cent to end at 62,547.11 points and the broader Nifty rose 46.35 points to 0.25 per cent.