Rupee rises 1 paisa to 83.28 against US dollar in early trade

At the interbank foreign exchange, the rupee opened at 83.28, higher by 1 paisa from its previous close.

Mumbai: The rupee appreciated by 1 paisa to 83.28 against the US dollar in early trade on Friday amid a weak American currency and softening crude oil prices.

Forex traders said negative equity market sentiment and selling pressure from foreign investors kept the Indian currency range-bound. At the interbank foreign exchange, the rupee opened at 83.28, higher by 1 paisa from its previous close.

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On Thursday, the rupee closed at 83.29 against the American currency.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading lower by 0.04 per cent at 105.86.

Brent crude futures, the global oil benchmark, rose 0.42 per cent to USD 80.35 per barrel.

In the domestic equity market, the BSE Sensex declined 187.32 points or 0.29 per cent to 64,644.88. The NSE Nifty fell 47.20 points or 0.47 per cent to 19,348.10.

According to exchange data, Foreign Institutional Investors (FIIs) were net sellers in the capital market on Thursday as they offloaded shares worth Rs 1,712.33 crore.