Rupee rises to 79.82/$

5 Sep 2022 , 02:27 PM

Early on Monday, the rupee strengthened 5 paise to 79.82 versus the US dollar in line with an uptick in local markets. The strengthening of the US dollar in foreign exchange markets and rising crude oil prices, according to forex dealers, are dampening investor morale and causing the rupee to trade in a limited range.

The rupee gained 5 paise from the previous close to start trading at the interbank foreign exchange at 79.84 versus the dollar in early dealings.

The rupee’s closing value versus the dollar on Friday was 79.87. The dollar index, which measures the value of the dollar relative to a basket of six different currencies, increased by 0.39 % to 109.95.

Brent crude futures, the benchmark for all crude oil, increased 1.96 % to USD 94.84 a barrel. The 30-share Sensex was up 129.41 points, or 0.22 percent, at 58,932.74 points on the domestic equities front, while the larger NSE Nifty was up 44.35 points, or 0.25 %, at 17,583.80 points. According to exchange statistics, foreign institutional investors were net sellers on Friday in the capital market, selling shares worth Rs.8.79 crore.

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