Finance
The rupee rose 11 paise to 82.48 against the US dollar in early trade on Monday, tracking a drop in crude oil prices and firm Asian currencies.
According to traders, the rupee’s gains were capped by a strong dollar and negative sentiments in global and domestic equity markets.
The domestic unit opened stronger at 82.48 against the US dollar on the interbank foreign exchange before falling to 82.52. It increased to 82.48, a gain of 11 paise.
The Indian rupee fluctuated between 82.46 and 82.55 per dollar.
The rupee closed at 82.59 against the US dollar on Friday.
Meanwhile, the dollar index, which measures the strength of the greenback against a basket of six currencies, was 0.16 percent higher at 103.87.
Brent crude futures fell 0.5% to USD 72.59 per barrel, the global oil benchmark.
The 30-share BSE Sensex was down 461.61 points, or 0.80%, at 57,528.29, while the broader NSE Nifty was down 158.05 points, or 0.92 percent, at 16,942.00.
The recent decline in US and European banking stocks has harmed investor sentiment amid concerns about the global banking system’s health.
According to exchange data, foreign institutional investors (FIIs) were net sellers in the domestic capital market on Friday, offloading shares worth Rs 1,766.53 crore.
Source:BS
