Rupee rises 6 paise to 82.55 against U.S. dollar

The rupee gained 6 paise to 82.55 against the U.S. dollar in early trade on July 10 supported by sustained foreign fund inflows and a bullish momentum in domestic equities.
| Photo Credit: V. Sudershan

The rupee gained 6 paise to 82.55 against the U.S. dollar in early trade on July 10 supported by sustained foreign fund inflows and a bullish momentum in domestic equities.

At the interbank foreign exchange, the domestic unit opened at 82.65 against the dollar and then rose to 82.55, registering a gain of 6 paise over its previous close.

On July 7, the rupee closed at 82.61 against the U.S. currency.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.18% to 102.45.

Brent crude futures, the global oil benchmark, was trading 0.65% higher at $7.96 per barrel.

Forex traders said the rupee is trading on a positive note on sustained foreign fund inflows and positive macro economic indicators.

India’s foreign exchange reserves rose by $1.853 billion to $595.051 billion in the week ended June 30, the Reserve Bank of India said on July 7.

In the domestic equity market, the 30-share BSE Sensex advanced 149.62 points or 0.23% to 65,430.07. The broader NSE Nifty also rose 59.50 points or 0.31% to 19,391.30.

Foreign Institutional Investors (FIIs) were net buyers in the capital market on July 7 as they purchased shares worth ₹790.40 crore, according to exchange data.