The rupee had closed at 77.60 against the US dollar on Thursday
The rupee had closed at 77.60 against the US dollar on Thursday
The rupee appreciated by 13 paise to 77.47 against the US dollar in early trade on Friday, supported by a fall in the dollar index and positive domestic equities.
At the interbank foreign exchange, the rupee opened at 77.47 against the US dollar, registering a gain of 13 paise from the previous close.
On Thursday, the rupee had closed at 77.60 against the US dollar.
According to Sriram Iyer, Senior Research Analyst, Reliance Securities, the Indian rupee opened stronger against the dollar on Friday in view of the overnight weakness of the dollar.
Additionally, prospects of weak crude oil prices in the next few sessions and strong Asian and emerging market peers could also aid the sentiment on Friday.
Global oil benchmark Brent crude futures fell 0.06 per cent to $117.54 a barrel.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.10% lower at 101.72.
On the domestic equity market front, the 30-share Sensex was trading 479.4 points or 0.86% higher at 56,297.51, while the broader NSE Nifty was trading 141.50 points or 0.85% higher at 16,769.50.
Foreign institutional investors were net sellers in the capital markets on Thursday as they sold shares worth Rs 451.82 crore, according to stock exchange data.