Rupee rises 10 paise to 81.96 against US dollar in early trade


MUMBAI: The rupee was up 10 paise to 81.96 against the US dollar in early trade Wednesday on Wednesday, on weakness in the US currency in the overseas market.
Forex traders said significant inflows of foreign funds and falling crude oil prices bolstered the local unit.
On the interbank foreign exchange exchange, the domestic currency opened at 82.06 against the dollar and then rose to 81.96, up 10 paise from the previous close.
On Wednesday, the rupee closed at 82.06 against the US currency.
Traders said investors were cautious as they awaited inflation data from the US later in the day.
Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, fell 0.05 percent to 101.55.
Brent crude futures, the global oil benchmark, fell 0.72 percent to $76.88 a barrel.
Meanwhile, India’s inflation data, expected later in the week, will provide clues on the RBI’s next rate hike moves, traders said.
Foreign institutional investors (FIIs) were net buyers in the capital market on Tuesday, buying shares worth Rs.1,942.19 crore, according to stock market data.
In the domestic stock market, the 30-stock BSE Sensex fell 74.08 points, or 0.12 percent, to 61,687.25 on Wednesday. The broader NSE Nifty was up 20.25 points, or 0.11 percent, to 18,245.70.

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