In early trade, Rupee climbs 13 paise to 79.11

1 Aug 2022 , 11:39 AM

In Monday’s opening trading, the rupee appreciated 13 paise to 79.11 against the US dollar. As the dollar continued to decline due to a less aggressive US Fed and decreasing crude oil prices, forex dealers said that the rupee opened higher.

The rupee rose 13 paise from the previous close to starting trading at the interbank foreign exchange, where it hit 79.11 versus the US dollar. The rupee had a prior session closing value of 79.24 versus the US dollar. The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.14 % to 105.75.

Global oil benchmark Brent crude futures fell 0.97 % to USD 103 per barrel. According to Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, the rupee is likely to trade in the range of 79 to 79.40.