The rupee appreciated by 25 paise to 81.81 against the U.S. dollar in early trade on Monday, tracking positive sentiments in the domestic equity market and subdued dollar against major currencies.
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The rupee appreciated by 25 paise to 81.81 against the U.S. dollar in early trade on Monday, tracking positive sentiments in the domestic equity market and subdued dollar against major currencies.
At the interbank foreign exchange, the domestic unit opened at 81.78 against the dollar and slipped to 82.06. Later, it gained ground to reach 81.81 registering an increase of 25 paise over its previous close.
On Friday, the rupee settled at 82.06 against the U.S. dollar.
The dollar index, which gauges the greenback’s strength against a basket of six currencies fell 0.77% to 103.78.
Brent crude futures, the global oil benchmark, rose 0.30% to $83.03 per barrel.
In the domestic equity market, the 30-share BSE Sensex was trading 262.24 points or 0.44% higher at 59,397.37 points. The broader NSE Nifty rose 79.50 points or 0.46% to 17,492.40 points.
Investors are closely watching the developments following the collapse of the Silicon Valley Bank in the U.S.
On Sunday, the U.S. Federal Reserve on Sunday announced a new emergency loan programme to bolster the capacity of the banking system and against the backdrop of the Silicon Valley Bank crisis, some analysts also expect that the Federal Reserve might even go slow on interest rate hikes to tame inflation.
Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday as they offloaded shares worth ₹2,061.47 crore, according to exchange data.
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