The rupee fell 14 paise to 82.35 versus the US dollar in early trade on Wednesday, as the US currency strengthened and foreign money outflows continued.

Furthermore, investor risk aversion and weak Asian and developing market currencies weighed on the local currency.

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The local unit started at 82.32 versus the dollar on the interbank foreign exchange, then fell further to 82.35, a 14-paise loss from its previous finish.

In early trade, the local currency struck 82.28 versus the US dollar on a highly turbulent day.

The rupee recovered from its all-time low on Tuesday, closing 19 paise higher at 82.21 versus the US dollar.

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“Most Asian and emerging market peers were weaker this Wednesday and will weigh on sentiments,” Sriram Iyer, Senior Research Analyst at Reliance Securities said, adding that investors will remain cautious ahead of the release of key domestic macro data.

India’s inflation, IIP and manufacturing output are due today, while the more important FOMC minutes are scheduled for late evening.

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“Investors will also await a key US inflation report tomorrow that is expected to influence the Federal Reserve’s monetary policy stance,” Iyer said, adding that the RBI will remain proactive if the rupee’s volatility increases during the day.

Meanwhile, the dollar index, which measures the strength of the US currency against a basket of six currencies, increased by 0.23% to 113.48.

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The international oil benchmark, Brent crude futures, slid 0.67% to USD 93.66 a barrel.

The Sensex was up 229.6 points, or 0.40%, at 57,376.92, while the Nifty was up 71.60 points, or 0.42%, at 17,055.15.

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Foreign institutional investors (FIIs) have sold shares worth a net of Rs 4,612.67 crore, whereas domestic institutional investors (DIIs) purchased shares worth a net of Rs 2,430.76 crore on October 11, as per provisional data available on the NSE.