Rupee remains flat at 83.73 against US dollar in early trade

Mumbai, Jul 30 (PTI) The rupee opened flat at 83.73 against the US currency on Tuesday as the dollar remained firm in overseas markets.

At the interbank currency exchange, the rupee opened firm at 83.73 and was trading in the range of 83.73 to 83.74 in early trade.

Forex traders said a decline in crude oil prices supported the rupee but firm dollar overseas restricted gains for the domestic unit. Month-end dollar demand as well as forex outflows also kept the rupee in a tight range.

The rupee continued to trade flat at 83.73 against the US dollar at 9.45 am.

In the domestic equity market, the 30-share BSE Sensex rose 67 points to 81,423.53, while Nifty advanced 25 points to 24,861.35 in early trade on Tuesday.

The Sensex had advanced 23.12 points, or 0.03 per cent, to settle at 81,355.84 points, on Monday.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was at 104.6070, marginally up 0.04 per cent.

Brent crude futures — the global oil benchmark — slipped 0.33, or 0.41 per cent, to USD 79.45 per barrel.

Foreign institutional investors (FIIs) were net sellers in the capital markets on Monday, selling shares worth Rs 2,474.54 crore, according to exchange data.BUSINESSNEWDELHI