Rupee rises 10 paise to 81.96 against US dollar in early trade – Times of India

Mumbai: The Rupee rose by 10 paise to 81.96 against U.S. Dollar In early trade on Wednesday, the weakness of the US currency in foreign markets was monitored.
Forex traders said significant foreign fund inflows and easing crude prices supported the local unit.
At the interbank foreign exchange, the domestic unit opened at 82.06 against the dollar and then recovered to 81.96, registering a gain of 10 paise over its previous close.
On Wednesday, the rupee had closed at 82.06 against the American currency.
Traders said investors were cautious as they were waiting inflation data Arrival from the US is expected later in the day.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.05 per cent to 101.55.
Global oil benchmark Brent crude futures declined 0.72 per cent to USD 76.88 per barrel.
Meanwhile, India’s inflation data, due later in the week, will provide clues on RBI’s next rate hike move, traders said.
Foreign institutional investors (FIIs) were net buyers in the capital market on Tuesday as they bought shares worth Rs 1,942.19 crore, according to exchange data.
In the domestic equity market, 30-share BSE Sensex On Wednesday, the Sensex fell 74.08 points, or 0.12 per cent, to 61,687.25. The broader NSE Nifty rose 20.25 points, or 0.11 per cent, to 18,245.70.

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