Rupee rises 18 p to 81.93 against US dollar in early trade
According to RBI's latest data, India's foreign currency assets, the biggest component of the forex reserves, fell by USD 4.38 billion to USD 509.691 billion.
According to RBI's latest data, India's foreign currency assets, the biggest component of the forex reserves, fell by USD 4.38 billion to USD 509.691 billion.
Sensex opened at 38,941.10 from its previous close of 38,823.11.
A strengthening dollar against major currencies overseas and weak domestic equity market weighed on the local unit, forex traders said. However, softening crude oil prices restricted the rupee's fall, they added.
Forex traders said rupee is expected to trade in a narrow range as market participants will keep a close watch on the Union budget this week, that could trigger volatility in the local unit.
Subdued sentiments in domestic equity markets also influenced the trading pattern in the currency market, forex traders said. However, a weak dollar against major currencies overseas restricted the rupee's fall, they added.
Maintaining its uptrend for the fourth straight day, the rupee strengthened by 21 paise to a fresh one-month high of 66.85 against the dollar in early trade today on increased selling of the greenback by exporters and banks.
The rupee strengthened by 39 paise to 67.39 against the dollar at the interbank forex market on 28 May on fresh selling of the greenback by exporters and banks.
The BSE Sensex rose over 187 points in early trade today, extending yesterday's rally on robust buying in IT, energy and banking stocks amid unabated purchases by domestic institutional investors.
The rupee strengthened by 12 paise to 67.21 against the dollar in early trade today on fresh selling of the US currency by exporters and banks amid higher opening in the domestic equity market.
The rupee firmed by 13 paise to 66.53 against the dollar in early trade on Thursday increased selling of the…
