Re closes at 82.04/USD on firm crude oil prices

Mumbai: The rupee slipped 2 paise to settle at 82.04 against the US currency on Wednesday amid firm oil prices in the international market and a rebound in the greenback.

However, fresh foreign portfolio investments into equities and a record-breaking rally in domestic equities restricted the rupee’s decline, analysts said. At the interbank foreign exchange market, the rupee opened strong at 82.00 and later moved to a high of 81.97 in early trade. The rupee failed to hold onto the gains and later, declined to a day’s low of 82.06 per dollar as the US currency rebounded from overnight losses. The local currency settled at 82.04, showing a loss of 2 paise over the last close. The rupee closed at 82.02 on Tuesday. The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose by 0.12 per cent to 102.62.