The Indian rupee depreciated against the U.S. dollar in a volatile session on Wednesday.
The rupee rose 2 paise to 82.73 at the open. Thereafter, it swung between gains and losses, fluctuating between 82.66 and 82.82. The rupee had closed at 82.75 on Tuesday.
The rupee closed at 82.81, depreciating 0.08%, or 6 paise, against the greenback.
"The U.S. dollar slipped after the Bank of Japan shocked markets with a surprise tweak to its bond yield programme. BoJ decided to let long-term yields move 50 bps on either side of its 0% target, wider than the 25 bps band previously. Additionally, disappointing housing data added downside pressure. However, a surge in U.S. Treasury yields prevented a further fall in the dollar," ICICI Direct said in a note.
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