The rupee fell 12 paise to 82.91 against the US dollar in early trading on Friday, reflecting a robust American currency in the foreign market.

The local unit started at 82.89 versus the dollar on the interbank foreign exchange, then fell further to 82.91, a loss of 12 paise from its previous close. Initially, the domestic currency reached 82.75 versus the US dollar.

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The rupee recovered from its record low on Thursday, closing 21 paise higher at 82.79 versus the US dollar.

Meanwhile, the dollar index, which measures the strength of the US currency against a basket of six currencies, increased by 0.11% to 113.

The pound fell 0.21% to $1.1215 in morning Asian trade, following a brief surge to a high of $1.1338 the day before after Liz Truss announced her resignation. The euro lost 0.15% to $0.97725 after tracking the increase in sterling to an overnight high of $0.98455.

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Meanwhile, the yen recently traded at 150.20 per dollar, having dropped to a new 32-year low of 150.29 overnight. It has dropped about 1% this week and is on course for its tenth consecutive weekly loss. The kiwi was 0.22% down at $0.56625, but it was still on course for its first weekly gain, halting a nine-week losing streak.

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“The rupee which closed at 82.79 against the dollar opened slightly weaker. On Thursday, the RBI intervened by selling more than a billion dollars and the rupee gained from a low of 83.23 to 82.70,” said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.

The dollar index and oil were flat at 113 and USD 92.30 per barrel, respectively, Bhansali said adding that the Asian currencies were generally weaker against the dollar.

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Foreign institutional investors (FIIs) returned to the markets as net buyers on Thursday, adding to the momentum. Foreign institutional investors (FIIs) have bought shares worth a net of Rs 1,864.79 crore, whereas domestic institutional investors (DIIs) sold shares worth a net of Rs 886.80 crore on October 20, as per data available on the NSE.

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The international oil benchmark, Brent crude futures, rose 0.37% to USD 92.72 a barrel.

The Sensex was up 316.26 points, or 0.53%, at 59,519.16, while the  Nifty was up 83.50 points, or 0.48%, at 17,647.45.