Rupee rises 6 paise to 82.02 against U.S. dollar in early trade
The Hindu
Rupee gains 6 paise to 82.02 vs USD in early trade on Thursday, supported by FII inflows & softness in US dollar. Surge in crude oil prices capped sharp gains for local unit. Dollar index fell 0.22% to 100.06. FIIs bought ₹1,165.47 crore in capital markets on Wednesday.
The rupee gained 6 paise to 82.02 against the U.S. dollar in early trade on Thursday supported by steady foreign fund inflows.
However, a surge in crude oil prices capped sharp gains for the local unit, forex traders said.
At the interbank foreign exchange, the domestic unit opened at 82.05, then touched a high of 82.02 against the American currency, registering a rise of 6 paise over its last close.
On Wednesday, the rupee had settled at 82.08 against the dollar.
Softness in the U.S. dollar and sustained FII inflows supported the rupee, forex traders said, adding that the strength in crude oil prices remains a concern for the local unit, as a sharp surge in prices could limit its gains.
Participants in the rupee and dollar markets are eagerly awaiting cues from the upcoming Federal Reserve rate decision next week, traders said.
The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.22 per cent to 100.06.
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