Early trading sees rupee strengthening 6 paise to 82.34/ $

19 Oct 2022 , 11:11 AM

Early on Wednesday, the rupee climbed versus the US dollar by 6 paise to 82.34 as investor confidence was boosted by a strong trend in domestic equities. However, ongoing outflows of foreign money limited the advances made by the local currency, according to FX brokers. The local unit started out strongly against the dollar at the interbank foreign exchange, quoting at 82.32, before losing some ground and closing at 82.34, up 6 paise from its previous finish.

The rupee lost 10 paise to conclude the previous session on Tuesday at 82.40 against the dollar. The dollar index, which measures the strength of the dollar against a basket of six different currencies, decreased by 0.6% to 112.06.

The benchmark for world oil, Brent crude futures, increased by 0.59% to USD 90.56 a barrel. The 30-share BSE Sensex was trading 258.72 points, or 0.44 %, higher at 59,219.32 on the domestic equity market. Similar to this, the larger NSE Nifty increased by 69.30 points, or 0. 40%, to reach 17,556.25. According to exchange data, Foreign Institutional Investors (FIIs) sold shares worth Rs153.40 crore on Tuesday, making them net sellers in the capital markets.