Rupee gains 13 paise to 81.61 against U.S. dollar

Forex traders said sustained foreign fund outflows and a weak trend in domestic equities weighed on investor sentiments and restricted the appreciation bias

The rupee rose 13 paise to 81.61 against the U.S. dollar in early trade on January 11 supported by easing crude oil prices.

Forex traders said sustained foreign fund outflows and a weak trend in domestic equities weighed on investor sentiments and restricted the appreciation bias.

At the interbank foreign exchange, the domestic unit opened at 81.73 against the dollar, then gained ground to touch 81.61, registering a rise of 13 paise over its previous close.

On Tuesday, the rupee settled at 81.74 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.08% to 103.31.

Brent crude futures, the global oil benchmark, fell 0.71% to $79.53 per barrel.

The rupee was the best performing Asian currency on Tuesday, IFA Global Research Academy said in a research note.