The rupee appreciated 20 paise to 81.50 against the US currency in morning trade on Wednesday, January 25, 2023 following a weak dollar in global markets.
Early losses in domestic equities and a rise in oil prices, however, limited the rupee’s gains.
At the interbank foreign exchange, the rupee opened at 81.62 and touched a high of 81.49 in morning trade.
At 0950, the rupee was trading at 81.50 against a dollar. The local currency had closed at 81.70 on Tuesday.
The US dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.04 per cent to 101.88.
Brent crude was trading down 0.43 per cent at $86.48 a barrel, while oil for the Indian basket was down 2.69 per cent at $79.98 a barrel.
On the domestic equity market front, the 30-share BSE Sensex closed at 60,709.93, down 268 points or 0.44 per cent. The broader NSE Nifty closed at 18,028.05, down 90.25 points or 0.5 per cent.
Foreign institutional investors (FIIs) were net sellers in the capital market on Tuesday as they sold shares worth ₹760.51 crore, according to exchange data.