Rupee rises 5 paise to 79.82 against U.S. dollar in early trade

At the interbank foreign exchange, the rupee opened at 79.84 against the dollar

September 05, 2022 10:09 am | Updated 12:43 pm IST - Mumbai:

 Forex traders said the rupee is trading in a narrow range as the strengthening of the American currency in the overseas market and rising crude oil prices are weighing on investor sentiment. File.

 Forex traders said the rupee is trading in a narrow range as the strengthening of the American currency in the overseas market and rising crude oil prices are weighing on investor sentiment. File. | Photo Credit: C. Venkatachalapathy

The rupee appreciated 5 paise to 79.82 against the U.S. dollar in early trade on September 5 in line with a positive trend in domestic equities.

Forex traders said the rupee is trading in a narrow range as the strengthening of the American currency in the overseas market and rising crude oil prices are weighing on investor sentiment.

At the interbank foreign exchange, the rupee opened at 79.84 against the dollar and touched 79.82 in initial deals, registering a gain of 5 paise over the last close.

On Friday, the rupee closed at 79.87 against the dollar.

The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.39% to 109.95.

Global oil benchmark Brent crude futures jumped 1.96% to $94.84 per barrel.

On the domestic equity front, the 30-share Sensex was trading 129.41 points or 0.22% higher at 58,932.74 points, while the broader NSE Nifty advanced 44.35 points or 0.25% to 17,583.80 points.

Foreign institutional investors were net sellers in the capital market on Friday, offloading shares worth ₹8.79 crore, as per exchange data.

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