Rupee gains 3 paises to 77.52 against the US dollar in early trading: The Tribune India
Bombay, May 26
The rupiah rose 3 paise to 77.52 against the US dollar in Thursday’s opening session as the positive trend in domestic equities and weakness in the US currency abroad supported local unity.
However, rising crude oil prices in international markets and continued outflows of foreign funds kept the pressure on the domestic currency, traders said.
On the interbank exchange, the Rupee opened slightly weak at 77.54 against the US Dollar, then rose slightly to quote 77.52, registering a rise of 3 paise from the previous close. It was moving in a narrow range of 77.52 to 77.55 in early trades.
During the previous session, the rupee had settled at 77.55 against the US currency.
The dollar index, which gauges the strength of the greenback against a basket of six currencies, traded down 0.04% to 102.01.
On the domestic stock market front, the 30-stock Sensex traded 271.98 points or 0.51% higher at 54,021.24 points, while the broader NSE Nifty climbed 66.20 points or 0. .41% to 16,092 points.
Brent futures, the global oil benchmark, rose 0.51% to $114.61 a barrel.
Foreign institutional investors remained net sellers in the capital market on Wednesday as they unloaded shares worth Rs 1,803.06 crore, according to stock market data.