Finance
In early trade on Friday, the rupee rose 18 paise to 81.08 against the US dollar, aided by a weak dollar in the international market.
Forex traders reported that weak domestic equities and foreign fund outflows weighed on the local currency, limiting the appreciation bias.
The domestic unit opened at 81.11 against the dollar on the interbank foreign exchange, then rose to 81.08, an increase of 18 paise from its previous close.
The rupee gained 4 paise against the US dollar on Thursday, closing at 81.26.
Meanwhile, the dollar index, which measures the strength of the US currency against a basket of six currencies, fell 0.1% to 104.71.
Brent crude futures rose 0.22 percent to USD 87.07 per barrel, the global oil benchmark.
The 30-share BSE Sensex was trading 259.39 points, or 0.41 percent, lower at 63,024.80 in the domestic equity market. The NSE Nifty dropped 71.60 points, or 0.38 percent, to 18,740.90.
According to exchange data, foreign institutional investors (FIIs) were net sellers in the capital markets on Thursday, offloading shares worth Rs 1,565.93 crore.
Meanwhile, Goods and Services Tax (GST) collections increased by 11% in November to approximately Rs 1.46 lakh crore.
This is the ninth month in a row that revenues have exceeded Rs 1.4 lakh crore. However, November’s collection was the lowest since August.
Source:BS
