In early trade, Rupee rises 71 paise to 80.69 / $

11 Nov 2022 , 02:24 PM

Early on Friday, the rupee strengthened 71 paise to 80.69 against the dollar as investors’ attitudes were bolstered by easing US CPI data and a decline in the dollar index. Forex traders claimed that the local currency was also supported by strong domestic equities and falling crude oil prices.

The local unit began trading at 80.76 versus the dollar on the interbank foreign exchange, then advanced to 80.69, moving up 71 paise from its previous finish. The rupee gained 7 paise on Thursday to end the day at 81.40 against the US dollar.

The 30-share BSE Sensex was trading at 1021.78 points, or 1.69 percent, higher at 61,635.48 on the domestic equity market. Similarly, the larger NSE Nifty increased by 282.70 points, or 1.57%, reaching 18,310.90. According to exchange data, Foreign Institutional Investors (FIIs) were net purchasers on Thursday in the capital markets, buying shares worth Rs 36.06 crore.

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