Rupee rises by 2 paise at 83.38 per dollar in early trade
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The rupee rose by two paise to 83.38 against the US dollar in early trade on Tuesday. The weak trend of the American currency and buying of foreign funds had an impact on the local currency.
Forex traders said that the positive trend in domestic markets and low prices of crude oil also supported the Indian currency. The rupee opened at 83.37 against the dollar in the interbank foreign exchange market. Then it reached 83.38 per dollar, which is an increase of two paise from the previous closing price.
The rupee had closed at 83.40 against the American currency on Friday. Markets were closed on Monday on the occasion of Guru Nanak Jayanti. Meanwhile, the dollar index, which reflects the position of the US dollar against six major currencies of the world, fell by 0.06 percent at 103.14.
Global oil benchmark Brent crude was trading 0.28 per cent lower at $80.20 per barrel. According to stock market data, foreign institutional investors (FIIs) had bought shares worth Rs 2,625.21 crore on Friday.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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