Finance
The rupee rose 2 paise to 83.30 against the US dollar in early trade on Thursday, supported by a drop in crude oil prices and gains in domestic shares. The US dollar also fell versus its key global rivals, which boosted rupee sentiment despite FII withdrawals, according to FX dealers. The local currency began at 83.30 against the US dollar on the interbank foreign exchange market, up 2 paise from the previous close. On Wednesday, the unit closed at 83.32.
The dollar index, which measures the strength of the US currency against a basket of six currencies, was trading 0.17 percent lower at 103.74.
The dollar rose on Wednesday as the Fed meeting minutes revealed a hawkish tone from the Federal Open Market Committee (FOMC). Brent crude futures, the global benchmark for oil, lost 1.45% to USD 80.77 a barrel.
The Sensex increased 145.86 points, or 0.22 percent, to 66,169.10 points in early trade on the domestic equity market. The Nifty50 rose 48.70 points, or 0.25 percent, to 19,860.55. According to exchange data, foreign institutional investors (FIIs) were net sellers in the capital markets on Wednesday, selling shares worth Rs 306.56 crore.
Source:FE
