The rupee slipped 2 paise to settle at 82.04 (provisional) 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 (provisional), 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.
Global crude oil benchmark Brent crude was trading 0.69 per cent higher USD 72.76 per barrel.
In the domestic equity market, the 30-share BSE Sensex hit the record 64,000 mark, and the Nifty scaled the 19,000 peak in intra-day trade amid a rally in the US and European markets and fresh foreign fund inflows.
Sensex closed at a lifetime high of 63,915.42, up by 499.39 points or 0.79 per cent. NSE Nifty also closed at a record high of 18,972.10, up by 154.70 points or 0.82 per cent.
Foreign Portfolio Investors emerged as net buyers in the capital market on Tuesday as they bought shares worth Rs 2,024.05 crore, according to exchange data.
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