IN EARLY TRADING, THE RUPEE CLIMBS 5 PAISA TO 79.82 US CENTS

 

As domestic equities continued their upward trajectory, the rupee strengthened 5 paise to 79.82 against the US dollar in early trade on Monday.

According to forex traders, the rupee is trading in a tight range as investor confidence is being affected by the strengthening of the American dollar in the international market and rising crude oil prices.

The rupee gained 5 paise over the previous close at the interbank foreign exchange, opening at 79.84 to the dollar and reaching 79.82 in initial trades.

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The rupee's exchange rate with the dollar on Friday was 79.87.

The dollar index, which rates the dollar's strength against a basket of six different currencies, increased 0.39 percent to 109.95.

To reach USD 94.84 per barrel, the benchmark Brent crude futures price increased by 1.96 percent.

The 30-share Sensex, which measures domestic equities, was up 129.41 points, or 0.22 percent, at 58,932.74 points, while the NSE Nifty, which measures broader equity markets, increased by 44.35 points, or 0.25 percent, to 17,583.80 points.

According to exchange data, foreign institutional investors sold shares worth Rs 8.79 crore on Friday, making up a net selling activity in the capital market.

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