When the US dollar dropped from its high levels in early trade on Monday, the rupee increased 16 paise to 82.66. Forex traders claimed that the local currency also received some support from low crude oil prices. The local unit started off at the interbank foreign exchange at 82.69 compared to the dollar before moving up and touching 82.66, recording a gain of 16 paise from its previous closing. The rupee also reached a low of 82.71 against the dollar in early trade. The rupee’s closing value against the US dollar on Friday was 82.82.
The dollar index, which gauges the value of the dollar against a basket of six different currencies, increased 0.13 percent to 103.99. The benchmark for world oil, Brent crude futures, increased by 0.61% to USD 83.51 a barrel. The 30-share BSE Sensex was down 23.44 points, or 0.04 percent, to 60,979.13 on the domestic equity market. The larger NSE Nifty dropped to 17,910.25 by 33.95 points, or 0.19 percent. According to exchange statistics, Foreign Institutional Investors (FIIs) sold shares worth Rs 624.61 crore on Friday, making them net sellers in the capital market.
