Rupee Rises 13 Paise Against US Dollar In Early Trade
New Delhi: The rupee opened at 79.16 against the US dollar and touched 79.11 in initial deals, registering a rise of 13 paise on Monday.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.14 per cent to 105.75 in the previous session.
Global oil benchmark Brent crude futures fell 0.97 per cent to USD 103 per barrel. According to Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, the rupee is likely to trade in the range of 79 to 79.40.
“The market awaits the RBI MPC to give its rate signals on August 5,” Bhansali said.
On the domestic equity market front, the 30-share Sensex was trading 188.86 points or 0.33 per cent higher at 57,759.11, while the broader NSE Nifty rose 72.45 points or 0.42 per cent to 17,230.70.
Foreign institutional investors were net buyers in the capital market on Friday, purchasing shares worth Rs 1,046.32 crore, as per exchange data.