Mumbai: The rupee rose 2 paise to 83.30 against the US dollar in early trade on Thursday amid improvement in crude oil prices and gains in local equities.
US currency Forex dealers said it weakened against its key global rivals, which supported the rupee’s sentiment despite FII outflows.
At the interbank foreign exchange market, the local unit opened at 83.30 against the US dollar, registering a rise of 2 paise over its previous close. On Wednesday the unit had closed at 83.32.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.17 percent lower at 103.74. The greenback strengthened on Wednesday after the Federal Open Market Committee (FOMC) suggested a dovish stance in Fed meeting minutes.
Brent crude futures, the global oil benchmark, fell 1.45 percent to $80.77 per barrel.
On the domestic equity market front, Sensex rose 145.86 points or 0.22 per cent to 66,169.10 in early trade. nifty 50 It rose 48.70 points or 0.25 percent to 19,860.55.
Foreign institutional investors (FIIs) were net sellers in the capital market on Wednesday as they sold shares worth Rs 306.56 crore, according to exchange data.
US currency Forex dealers said it weakened against its key global rivals, which supported the rupee’s sentiment despite FII outflows.
At the interbank foreign exchange market, the local unit opened at 83.30 against the US dollar, registering a rise of 2 paise over its previous close. On Wednesday the unit had closed at 83.32.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.17 percent lower at 103.74. The greenback strengthened on Wednesday after the Federal Open Market Committee (FOMC) suggested a dovish stance in Fed meeting minutes.
Brent crude futures, the global oil benchmark, fell 1.45 percent to $80.77 per barrel.
On the domestic equity market front, Sensex rose 145.86 points or 0.22 per cent to 66,169.10 in early trade. nifty 50 It rose 48.70 points or 0.25 percent to 19,860.55.
Foreign institutional investors (FIIs) were net sellers in the capital market on Wednesday as they sold shares worth Rs 306.56 crore, according to exchange data.
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