Rupee surges 6 paise to 82.54 against the US dollar

29 May 2023 , 11:02 AM

In early trading on Monday, the rupee strengthened by 6 paise to 82.54 against the US dollar, reflecting positive trends in both domestic and international markets as well as foreign capital inflows.

Forex traders are awaiting an agreement on the US debt ceiling between US President Joe Biden and Republican House Speaker Kevin McCarthy, while the dollar index is trading nearly unchanged at around 104.

At the interbank foreign exchange, the rupee opened stronger against the dollar at 82.57 and reached a high of 82.51 before settling at 82.54, marking a gain of 6 paise from its previous close.

On Friday, the rupee had closed at 82.60 against the US dollar.

The dollar index, which measures the strength of the dollar against a basket of six major currencies, declined marginally by 0.02% to 104.18.

Brent crude futures, the global benchmark for oil prices, rose by 0.69% to reach USD 77.48 per barrel.

In the domestic equities market, the 30-share BSE Sensex surged by 482.62 points or 0.77% to reach 62,984.31, while the NSE Nifty index gained 134.05 points or 0.72% to settle at 18,633.40.

According to exchange data, Foreign Institutional Investors (FIIs) were net buyers in the capital market on Friday, purchasing shares worth Rs 350.15 crore.

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