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Mumbai The rupee on Friday appreciated one paise to 82.16 against the dollar in early trade amid a weakening US dollar and a positive trend in domestic equity markets.
Forex traders said fall in crude oil prices also supported the local currency. The rupee opened at 82.11 against the dollar at the Interbank Foreign Exchange market and recovered to 82.16 in later trade. Thus, the rupee was up by one paise over the previous closing price.
The rupee had closed at 82.17 against the US dollar on Thursday. Participants were also cautious on expectations of interest rate hikes by the US Federal Reserve and other central banks. Meanwhile, the dollar index, which gauges the US dollar’s position against six major currencies, declined 0.04 per cent to 108.80.Global Oil Benchmarks Brent crude futures were down 0.09 per cent at $81.03 per barrel.
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