MARKET UPDATES: Early on February 15, the Indian rupee fell 12 paise to 82.90 against the US dollar due to a strong dollar after US inflation statistics for January fueled concerns that the Federal Reserve would maintain higher interest rates for longer.
Investor morale was further dampened by a flat domestic equity market and high crude oil prices, as per Forex traders. The local unit opened weakly at 82.90 against the dollar on the interbank foreign exchange, falling 12 paise from its previous finish. The rupee's value versus the dollar was fixed at 82.78 in the previous session on Tuesday.
The dollar index, which measures the strength of the dollar against a basket of six different currencies, increased 0.14% to 103.38. The benchmark for world oil, Brent crude futures, fell 0.70% to $84.98 a barrel.
The U.S. CPI increased 6.4% in the 12 months ending in January, the weakest increase since October 2021, according to data.
The 30-share BSE Sensex was down 265.2 points, or 0.43%, to 60,767.06 on the domestic equity market. The NSE Nifty index as a whole fell by 69.85 points, or 0.39%, to 17,860.00.
According to exchange data, Foreign Institutional Investors (FIIs) were net purchasers on Tuesday in the capital markets, buying shares worth 1,305.30 crore.
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