Rupee rises 4 paisa to 82.29/$

28 Oct 2022 , 02:30 PM

Early on Friday, the rupee strengthened against the US dollar by 4 paise to 82.29, helped by a weak US dollar in the international market and strong local equities.

The influx of new foreign funds into the capital markets also improved sentiment, according to FX traders. The local unit at the interbank foreign exchange started out weakly versus the dollar at 82.39, but gained ground to quote at 82.29, indicating an increase of 4 paise from its previous closing. In the initial dealings, the domestic unit was trading within a narrow range of 82.39-82.29. The rupee increased by 48 paise to settle at 82.33 against the dollar on Thursday during the previous session.

The dollar index, which measures the strength of the dollar against a basket of six different currencies, fell 0.23% to 110.35. The 30-share BSE Sensex was up 220.59 points, or 0.37 %, at 59,977.43 on the domestic equity market. The larger NSE Nifty index also increased, rising 60.50 points, or 0.34 percent, to 17,797.45.

According to exchange data, Foreign Institutional Investors (FIIs) changed from sellers to buyers in the capital markets on Thursday, purchasing shares worth Rs2,818.40 crore. The benchmark for world oil, Brent crude futures, decreased 0.86 percent to USD 96.13 a barrel.

For feedback and suggestions, write to us at [e-mail]