India News | Rupee Rises 5 Paise to 79.82 Against US Dollar in Early Trade
Get latest articles and stories on India at LatestLY. The rupee appreciated 5 paise to 79.82 against the US dollar in early trade on Monday in line with a positive trend in domestic equities.
Mumbai, Sep 5 (PTI) The rupee appreciated 5 paise to 79.82 against the US dollar in early trade on Monday in line with a positive trend in domestic equities.
Forex traders said the rupee is trading in a narrow range as the strengthening of the American currency in the overseas market and rising crude oil prices are weighing on investor sentiment.
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At the interbank foreign exchange, the rupee opened at 79.84 against the dollar and touched 79.82 in initial deals, registering a gain of 5 paise over the last close.
On Friday, the rupee closed at 79.87 against the dollar.
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The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.39 per cent to 109.95.
Global oil benchmark Brent crude futures jumped 1.96 per cent to USD 94.84 per barrel.
On the domestic equity front, the 30-share Sensex was trading 129.41 points or 0.22 per cent higher at 58,932.74 points, while the broader NSE Nifty advanced 44.35 points or 0.25 per cent to 17,583.80 points.
Foreign institutional investors were net sellers in the capital market on Friday, offloading shares worth Rs 8.79 crore, as per exchange data.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)