Rupee gains 25 paise to 82.63 against U.S. dollar in early trade

At the interbank foreign exchange, the domestic unit opened at 82.85 against the dollar, then gained ground to touch 82.63, registering a rise of 25 paise over its previous close

Image used for representational purpose only. | Photo Credit: V. Sudershan

The rupee appreciated 25 paise to 82.63 against the U.S. dollar in early trade on November 4 as the American currency retreated from its elevated levels.

At the interbank foreign exchange, the domestic unit opened at 82.85 against the dollar, then gained ground to touch 82.63, registering a rise of 25 paise over its previous close.

On November 3, the rupee settled 8 paise lower at 82.88 against the U.S. dollar.

Rupee was under pressure through Thursday's session on broad dollar strength. There is, however, some respite overnight, IFA Global Research Academy said in a note. "We expect it to trade in a 82.50-82.80 range with sideways price action," it added.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.22% to 112.67.

Brent crude futures, the global oil benchmark, advanced 0.75% to $95.38 per barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 9.85 points or 0.02% higher at 60,846.26. Similarly, the broader NSE Nifty rose 10.85 points or 0.06% to 18,063.55.

Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday as they purchased shares worth ₹677.62 crore, according to exchange data.