India News | Rupee Rises 6 Paise to 83.28 Against US Dollar in Early Trade
Get latest articles and stories on India at LatestLY. The rupee stayed on upward track for the second straight session and gained 6 paise to 83.28 against the US dollar in early trade on Wednesday amid a weak American currency and foreign fund inflow in the domestic equities.
Mumbai, Nov 29 (PTI) The rupee stayed on upward track for the second straight session and gained 6 paise to 83.28 against the US dollar in early trade on Wednesday amid a weak American currency and foreign fund inflow in the domestic equities.
Positive sentiment in the domestic equity markets and easing crude oil price also boosted the Indian currency, said Forex traders.
At the interbank foreign exchange, the rupee opened stronger at 83.30 against the dollar but slipped to 83.33. It later traded at 83.28 against the greenback, up 6 paise over its previous close.
On Tuesday, the rupee rebounded from record low levels and settled 6 paise higher at 83.34 against the US dollar.
Also Read | Uttar Pradesh Shocker: Teacher Molests 16 Girl Students in School in Unnao district; Arrested.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.13 per cent at 102.61.
Global oil benchmark Brent crude futures declined 0.04 per cent to USD 81.65 per barrel.
On the domestic equity market front, the BSE Sensex was trading 266.56 points or 0.40 per cent higher at 66,440.76, while the broader NSE Nifty rose 86.10 points or 0.43 per cent to 19,975.80.
Foreign institutional investors were net buyers in the capital market on Tuesday as they purchased shares worth Rs 783.82 crore, according to 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)