Finance
In early trade on Thursday, the rupee gained 10 paise to 81.91 against the US dollar, reflecting the depreciation of the American currency in the offshore market after the US Fed boosted interest rates on expected lines.
Forex traders reported that a bullish trend in domestic equities, as well as foreign money inflows, helped the local currency.
However, they said that a rise in crude oil prices limited the local currency’s growth.
The local unit opened at 81.92 versus the US dollar on the interbank foreign exchange, then rose to 81.91, a 10 paise increase over its previous close.
Meanwhile, the global oil benchmark, Brent crude futures, increased 1.03 percent to USD 83.77 per barrel.
The 30-share BSE Sensex was trading 183.85 points higher, or 0.28 percent higher, at 66,891.05. The NSE Nifty gained 64.50 points, or 0.33 percent, to 19,842.80.
According to exchange data, Foreign Institutional Investors (FIIs) were net purchasers in the capital markets on Wednesday, purchasing shares worth Rs 922.84 crore.
Source:BS
