Rupee rises 2 paise to 83.30 against U.S. dollar in early trade

Rupee rises 2 paise to 83.30 vs US$ in early trade on Thursday, tracking positive cues from equity markets & sustained foreign fund inflow. Crude oil prices hovering above USD 82/bbl ahead of OPEC+ meeting capped sharp gain. Awaiting domestic GDP data.

The rupee maintained its gaining momentum for the third straight day and appreciated by 2 paise to 83.30 against the U.S. dollar in early trade on Thursday, tracking positive cues from equity markets and sustained foreign fund inflow.

Forex traders said, crude oil prices hovering above USD 82 per barrel ahead of the crucial meeting of oil producing countries OPEC+ however capped the sharp gain in the Indian currency.

Investors are also awaiting domestic GDP data to be released later in the day, they said.

At the interbank foreign exchange, the rupee opened at 83.31 against the dollar and traded in the range of 83.29 to 83.32. It later traded at 83.30 against the greenback, registering a gain of 2 paise over its previous close.

The rupee rose 2 paise to close at 83.32 against the U.S. dollar on Wednesday, following a gain of 6 paise on Tuesday.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.02% at 102.78.