Rupee rises 8 paise to 81.60 / $

29 Nov 2022 , 11:34 AM

In early trade on Tuesday, the rupee strengthened 8 paise to 81.60 against the US dollar as foreign capital inflows and a strong trend in the domestic share market improved investor morale. Additionally, forex dealers claimed that a weak American dollar on the international market benefited the local currency. The local unit at the interbank foreign exchange started strongly against the dollar at 81.58 before slipping slightly to quote at 81.60, showing an increase of 8 paise from its previous finish.

The rupee gained 3 paise to conclude the previous session on Monday at 81.68 against the dollar. The dollar index, which measures the dollar value relative to a basket of six different currencies, fell 0.38 % to 106.28. The benchmark for world oil, Brent crude futures, rose 1.39 percent to USD 84.35 a barrel.

The 30-share BSE Sensex was trading 164.06 points, or 0.26 %, higher at 62,668.86 on the domestic equity market. Likewise, the NSE Nifty, which is a wider index, increased 59.10 points or 0.32 percent to 18,621.85. According to exchange data, Foreign Institutional Investors (FIIs) sold shares worth Rs 935.88 crore on Monday, making them net sellers in the capital markets.

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