Rupee Rises 34 paise to Close at 82.47 against US Dollar

The rupee appreciated 34 paise to close at 82.47 (provisional) against the US dollar on Thursday as the greenback retreated from its elevated levels. At the interbank foreign exchange market, the local currency opened at 82.15 and witnessed a high of 82.14 and a low of 82.51.

It finally settled at 82.47 against the American currency, registering a rise of 34 paise over its last close.

In the previous session on Tuesday, the rupee appreciated by 7 paise to 82.81 against the dollar.

The forex market was closed on Wednesday on account of Diwali Balipratipada.

The expectation is that the US Federal Reserve will slow the pace of its rate hiking cycle. This sent the euro back above parity with the greenback for the first time in a month, Somaiya added.

The pound extended its gains on optimism that Rishi Sunak and his team will restore stability and credibility in the UK.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was quoted 0.36 per cent higher at 110.09.

Global oil benchmark Brent crude futures fell 0.06 per cent to USD 95.63 per barrel.