Rupee rises 36 paise to 82.24 against US dollar

The rupee gained 36 pounds to reach 82.24 against the US dollar in early trading on Friday as fresh foreign money inflows and a positive trend in local stocks boosted investor sentiment.

In the interbank foreign exchange market, the local unit opened at 82.28 against the dollar, then strengthened and rose to 82.24, registering an increase of 36 pounds from its previous close.

On Thursday, the rupee closed at 82.60 against the greenback.

Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, fell 0.13 percent to 104.88.

Brent crude futures, the global oil benchmark, fell 0.39% to $84.42 a barrel.

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“The Indian rupee had its best week after more than one month, supported by renewed risk sentiment in global markets. The rupee appears to be gaining in the NDF market suggesting that offshore players have unwinded the dollar for a long time,” CR Amit Babari told Forex Advisors.

also, Inflows of over Rs 12,000 crore on the back of the Adani block deal have made the job easier for the Rs bulls.

“The local currency is expected to gain against the US dollar this month as corporate dollar inflows are on the higher side at the end of fiscal year in March. However, going forward, we expect the subject of aggressive Fed policy in the near term to limit gains in unity. local”.

Foreign Institutional Investors (FIIs) were net buyers in the capital market on Thursday buying shares worth Rs 12,770.81 crore, according to exchange data.