Rupee falls 31 paise to 82.23 against US dollar

Mumbai, July 28

The rupee plunged 31 paise to 82.23 against the US dollar in early trade on Friday amid massive outflow of foreign funds and subdued equity markets.

Elevated level of crude prices nearing USD 84 a barrel also weighed on the domestic unit even as the American currency gained strength on the back of better-than-expected GDP numbers from the US, forex traders said.

At the interbank foreign exchange, the domestic unit opened weak at 82.30, then touched a high of 82.19 against the American currency. It later traded at 82.23, registering a fall of 31 paise over its previous close.

On Thursday, the rupee had settled at 81.92 against the dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell marginally by 0.02 per cent to 101.76.