The rupee is strengthening versus the US currency

In early trading on Monday, the rupee strengthened versus the dollar. This is a good indication after the rupee fell 7 paise to an all-time low of 77.63 against the US dollar on Friday, driven down by continuing foreign fund outflows and rising crude oil prices.

On Monday, the rupee began at 77.66 against the US dollar on the interbank forex market, up 4 paise in early activity.

The rupee closed at 77.63 on Friday, down 7 paise from its Thursday closing of 77.56.

After six weeks of upward progress, the dollar index fell for the first time last week, owing to position liquidation and a preference for other currencies to emerge at a lower level.

The BSE Sensex rose 133.14 points, or 0.25 percent, to 54,459.53, while the broader NSE Nifty rose 24.35 points, or 0.15 percent, to 16,290.50.

According to stock exchange data, foreign institutional investors were net sellers in the capital market on Friday, offloading shares worth Rs 1,265.41 crore.