Rupee rises 6 paise to 82.02 against US dollar in early trade

the rupee It rose 6 pounds to 82.02 against the US dollar in early trading on Thursday, supported by steady inflows of foreign funds.

However, an increase in Crude oil prices Forex dealers said the sharp gains in the domestic unit were capped.

In the interbank foreign exchange market, the local unit opened at 82.05, then touched the highest level at 82.02 against the US currency, registering an increase of 6 pounds from its last close.

On Wednesday, the rupee settled at 82.08 against the dollar.

A weaker US dollar and continued inflows support the rupee, forex dealers said, adding that strength in crude oil prices remains a concern for the domestic unit, as a sharp rise in prices could cap its gains.

Also read: Weekly Rupee View: The rupee is at a crucial juncture

Traders said that participants in the rupee and dollar markets are eagerly awaiting signals from the Federal Reserve’s highly anticipated interest rate decision next week.

The dollar index, which measures the greenback’s strength against a basket of six currencies, fell 0.22 percent to 100.06.

Brent crude futures rose 0.13 percent to $79.56 a barrel.

On the domestic stock market, 30-share BSE Sensex And 49.46 points were traded, down by 0.07 percent, at 67,047.98 points. broader NSE elegant It fell 13.45 points, or 0.07 percent, to 19,819.70 points.

Foreign institutional investors (FIIs) were net buyers in the capital markets on Wednesday buying shares worth Rs 1,165.47 crore, according to exchange data.