Rupee falls 3 paise to close at 81.82 against US dollar

The Indian rupee closed at 81.82 to the US dollar, down 3 paise, due to a strong US dollar. The Indian currency had initially opened at 81.77 to the dollar, but saw a high of 81.72 and low of 81.85 throughout the trading day. Meanwhile, the US dollar strengthened after it posted strong earnings, and after elevated US inflation data was released on Thursday, indicating a hawkish Federal Open Market Committee was expected. However, positive equity markets in India and foreign inflows cushioned the downside.