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Indian rupee gains 23 paise to 82.12 against U.S. dollar in early trade as crude eases

New Delhi: The Indian rupee on Monday gained 23 paise to 82.12 per dollar in early trade on a positive trend in equity markets and softening of crude oil prices.The Indian rupee further strengthened after opening at 82.14 at the interbank foreign exchange market and touched 82.12 per dollar.

By Priyanka Verma 
Updated Date

New Delhi: The Indian rupee on Monday gained 23 paise to 82.12 per dollar in early trade on a positive trend in equity markets and softening of crude oil prices.The Indian rupee further strengthened after opening at 82.14 at the interbank foreign exchange market and touched 82.12 per dollar.

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On Friday, the rupee had gained 53 paise to close at 82.35 per dollar. According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the rupee started the trade with a gap-up trade tracking the overnight weakness of the dollar.

Meanwhile, the dollar index, which gauges the dollar’s trend against six other currencies, rose 0.19 per cent to 111.08. However, most of the Asian and emerging market peers weakened against the greenback this Monday morning after Chinese officials on the weekend reiterated their commitment to a strict COVID containment approach and could cap appreciation bias of the local unit, Iyer noted.

Brent crude oil futures were trading at $ 97.54 a barrel from 1.04 percent loss. In the domestic equity market, the 30-share BSE Sensex was trading 81.6 points or 0.13 per cent higher at 61,031.96.

Similarly, the broader NSE Nifty rose 52.50 points or 0.29 per cent to 18,169.65.Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday as they purchased shares worth Rs 1,436.25 crore, according to exchange data.

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