Rupee rises by 17 paise to 82.17 against US dollar on forex inflows, stocks rally

the rupee Its value rose 17 pounds to 82.17 against the US dollar on Friday as foreign capital inflows and a rise in local stocks boosted investor sentiment.

Besides, forex dealers said that falling global crude oil prices and increasing appetite for riskier assets have also supported domestic unity.

However, the dollar is strong against major competitors abroad US inflation data Capping rupee gains, they added.

In the interbank foreign exchange market, the local unit opened strongly at 82.12 and touched an intraday high of 82.09 and a low of 82.26 against the dollar.

The domestic unit was priced at 82.17 at 1530 hours, posting a gain of 17 pounds from its previous close of 82.34.

The forex market is closed on thursday due to ram navami.

The dollar index rose 0.25 percent to 102.08 ahead of the release of US inflation data later in the day.

In terms of the local stock market, BSE Sensex rose by 1031.43 points, or 1.78 percent, to close at 58,991.52, while NSE Nifty rose by 279.05 points, or 1.63 percent, to 17,359.75.

Brent raw Futures fell 0.24 percent to $79.08 a barrel.

Foreign institutional investors (FIIs) were net buyers in the capital market on Wednesday buying shares worth Rs 1,245.39 crore, according to exchange data.