Rupee rises 3 paise to 82.81 against US dollar

the rupee It rose 3 pounds to 82.81 against the US dollar in early trading on Tuesday, supported by foreign money inflows and the positive trend in local stocks.

Forex traders said The rupee is trading in a narrow range as the broad strength of the dollar is capping the bullish bias.

In the interbank foreign exchange market, the local unit opened at 82.82 against the dollar and then rose to 82.81, recording a profit of 3 pounds from its previous close.

On Monday, the rupee closed at 82.84 against the greenback.

The IFA Global Research Academy said in a research note that the rupee is likely to trade in the range of 82.65-82.95 with sideways price movement, adding that the rupee Reserve Bank of India Likely to continue to support the local unit.

Meanwhile, the dollar index, which measures the strength of the greenback against a basket of six currencies, rose 0.07 percent to 103.27.

Brent crude futures, the global oil benchmark, advanced 0.36 percent to $76.26 a barrel.

Foreign Institutional Investors (FIIs) were net buyers in the capital market on Monday buying shares worth Rs 922.89 crore, according to exchange data.