Rupee rises 6 paise to 82.55 against US dollar

Mumbai, Jul 10 (PTI) The rupee gained 6 paise to 82.55 against the US dollar in early trade on Monday supported by sustained foreign fund inflows and a bullish momentum in domestic equities.

At the interbank foreign exchange, the domestic unit opened at 82.65 against the dollar and then rose to 82.55, registering a gain of 6 paise over its previous close.

On Friday, the rupee closed at 82.61 against the US currency.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.18 per cent to 102.45.

Brent crude futures, the global oil benchmark, was trading 0.65 per cent higher at USD 77.96 per barrel.

Forex traders said the rupee is trading on a positive note on sustained foreign fund inflows and positive macro economic indicators.

India’s foreign exchange reserves rose by USD 1.853 billion to USD 595.051 billion in the week ended June 30, the Reserve Bank of India said on Friday.

In the domestic equity market, the 30-share BSE Sensex advanced 149.62 points or 0.23 per cent to 65,430.07. The broader NSE Nifty also rose 59.50 points or 0.31 per cent to 19,391.30.

Foreign Institutional Investors (FIIs) were net buyers in the capital market on Friday as they purchased shares worth Rs 790.40 crore, according to exchange data.