Rupee falls 7 paise to close at 82.75 against US dollar

The Indian rupee closed at 82.75 per US dollar, down 7 paise, as the greenback gained strength in the overseas market and on weak domestic equities. The market is worried about the debt-ceiling impasse, putting pressure on the Indian currency. Despite FII inflows and a steady rebound in crude oil prices, traders are expected to remain cautious ahead of the US GDP and pending home sales data. The USD/INR spot is expected to trade between 82.30 and 83.30, according to Sharekhan by BNP Paribas’ Research Analyst, Anuj Choudhary.