Early trading sees the Indian rupee up 4 paise to 79.80 against the US dollar
Losses on the domestic stock markets, however, put pressure on the local currency and curbed the advance, according to forex traders.
admin
The rupee strengthened 4 paise to 79.80 against the US dollar in early trade on Monday, helped by falling petroleum prices on international markets and a decline in the value of the US dollar abroad.
Losses on the domestic stock markets, however, put pressure on the local currency and curbed the advance, according to forex traders.
The local unit at the interbank foreign exchange opened lower versus the dollar at 79.90 but gained ground to quote 79.80, registering a gain of 4 paise from its previous finish.
The rupee lost 20 paise to settle at 79.84 against the dollar in the previous session.
The dollar index, which measures the strength of the dollar against a basket of six different currencies, decreased 0.05% to 108.11. The benchmark for world oil, Brent crude futures, fell 1.14 percent to USD 95.62 a barrel.
The 30-share BSE Sensex was down 351.18 points, or 0.59 percent, on the equity market, trading at 59,294.97. The larger NSE Nifty also dropped 107.35 points, or 0.60 percent, to 17,651.10.
According to preliminary data, foreign institutional investors (FIIs) continued to be net buyers in the capital markets on Friday, buying shares worth Rs 1,110.90 crore.
