The rupee gains 17 paise to 74.71 against the US dollar in early trading

The rupiah’s rally was limited amid high crude oil prices and weak domestic equities.

The rupee appreciated 17 paise to 74.71 against the US dollar at the opening of trade on Friday, following weakness in the US currency in the overseas market.

However, the rupiah’s surge was limited due to high crude oil prices and weak domestic equities.

On the interbank exchange, the rupee opened at 74.71 against the US dollar, up 17 paise since the last close.

In the previous session, the rupiah stood at 74.88 against the greenback.

On the home front, investors will look to the Reserve Bank of India’s foreign reserves data indices.

The weekly F&O expiry could keep the rupee in a small trading band, traders said.

The dollar index, which measures the strength of the greenback against a basket of six currencies, traded down 0.25% to 95.14.

On the domestic stock market front, the 30-stock Sensex traded 92.57 points or 0.16% lower at 58,695.45, while the broader NSE Nifty was down 50.50 points or 0. .29% at 17,509.70.

Global oil benchmark Brent futures rose 0.49% to $91.56 a barrel.

Foreign institutional investors were net sellers in the capital market on Thursday as they sold shares worth ₹1,597.54 crore, according to stock market data.

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