Rupee rises 2 paise to 83.96 against US dollar in early trade

Rupee It rose 2 paise to 83.96 against the US dollar in early trade on Friday amid a weak greenback.

However, there has been an increase in crude oil prices And persistent FII outflows limited further gains in the domestic unit, according to forex traders.

A weak start to the day in domestic equity markets also kept the local unit from gaining ground, he said.

At the interbank foreign exchange, the rupee opened at 83.97 against the US dollar, 1 paise higher than the previous day’s close, and then rose to 83.96. The local unit had closed at 83.98 on Thursday.

Forex experts said the rupee is expected to range between 83.75 and 84.10, with the sideways trend likely to continue.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was down 0.11 percent at 102.87 points.

International benchmark Brent crude rose 1.48 percent to $77.71 per barrel in futures trade.

In the domestic equity market, 30-share BSESensex While it fell 147.67 points to 81,463.74 in early trade. nifty Fell 39.15 points to 24,959.30.

Foreign Institutional Investor (FII) There were net sellers in the capital market on Thursday as they sold shares worth ₹4,926.61 crore, according to exchange data.

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