Rupee rises 9 paise to 82.31 against US dollar in early trade

the rupee It gained 9 pesos to 82.31 vs US dollar in early trade On Monday amid a weak dollar and a positive trend in local stocks.

In the interbank foreign exchange market, the local unit opened at 82.36 against the dollar, then rose to 82.31, registering an increase of 9 pounds from its previous close.

On Friday, the rupee closed at 82.40 against the greenback.

Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, fell 0.11 percent to 103.

Brent crude futures, the global oil benchmark, advanced 0.04 percent to $75.02 a barrel.

In the local stock market, the 30-share BSE Sensex index rose 220.99 points, or 0.38 percent, to 57,748.09 points. The broader NSE Nifty index rose 76.10 points, or 0.45 percent, to 17,021.15 points.

Foreign Institutional Investors (FIIs) were net sellers in the capital market on Friday unloading shares worth Rs 1,720.44 crore, according to exchange data.

Meanwhile, India’s forex volume increased by $12.798 billion to $572.801 billion in the week ending March 17.

In the previous reporting week, reserves fell by $2.39 billion to a three-month low of $560.003 billion.