Mumbai: Rupee falls 4 paise to 83.17 U.S. Dollar In initial trade on Wednesday amid the selling of equities By foreign investors and an upward movement inside crude oil prices, Forex traders said subdued sentiment in domestic equity markets also weighed on the Indian currency.
At the interbank foreign exchange, the domestic currency opened at 83.13 and slipped to 83.17 against the greenback, 4 paise lower than its previous close.
On Tuesday, the domestic currency increased by 1 paise and closed at 83.13.
A range-bound movement in the Indian currency was due to investor concerns over upcoming inflation data from India as well as the US due to be released this week.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.02 percent lower at 102.26 on Wednesday.
Global oil benchmark Brent crude futures rose 0.23 percent to US$77.77 per barrel.
In the domestic equity market, the 30-share benchmark Sensex was trading 28.34 points or 0.04 per cent lower at 71,357.87. Nifty fell 7.85 points or 0.04 per cent to 21,537.
According to exchange data, foreign institutional investors (FIIs) sold shares worth Rs 990.90 crore on Tuesday.