Rupee rises 8 Paise to 72.89 gainst US Dollar in early trade

The rupee appreciated by 8 paise to 72.89 against the US dollar in opening trade on Tuesday tracking positive domestic equities and persistent foreign fund inflows. At the interbank forex market, the local unit opened sharply higher at 72.87 against the US dollar and lost some ground to 72.89 in early deals, registering a rise of 8 paise over its last close.

In the previous session, the rupee had slipped 4 paise to settle at 72.97 against the US dollar. On the domestic equity market front, the 30-share BSE Sensex was trading 167.76 points or 0.33 per cent higher at 51,516.53, and the broader NSE Nifty rose 62.20 points or 0.41 per cent to 15,178.00.

Foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 1,876.60 crore on Monday, as per exchange data. The dollar index, which gauges the greenback’s strength against a basket of six currencies, declined 0.21 per cent to 90.73.

Meanwhile, the global oil benchmark Brent crude was trading 0.78 per cent higher at USD 61.03 per barrel.