Market Update: Rupee rises by six paise at 83.26 per dollar in early trade
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The rupee’s gains were limited due to selling in the local stock market and strengthening of the dollar against other currencies. In the interbank foreign exchange market, the rupee opened at 83.22 per dollar and then slipped to a low of 83.26 per dollar.
The rupee rose by six paise to 83.26 per dollar in early trade on Wednesday in the interbank foreign exchange market. Rupee sentiment strengthened due to softening of crude oil prices and increased investment in risk assets.
However, the rupee’s gains were limited due to selling in the local stock market and strengthening of the dollar against other currencies. In the interbank foreign exchange market, the rupee opened at 83.22 per dollar and then slipped to a low of 83.26 per dollar.
This is an increase of six paise from the previous closing price. On Monday, the rupee had closed at an all-time low of 83.32 per dollar. Meanwhile, the dollar index, which gauges the US dollar’s position against six major currencies, was steady at 104.83. Brent crude futures, the global oil benchmark, were down one percent at $93.40 a barrel.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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