Rupee rises 6 paise to 90.85 against US dollar in early trade

Synopsis The rupee strengthened by 6 paise to 90.85 against the US dollar in early trade on Thursday, driven by a weaker greenback and FII inflows. Positive domestic equity market sentiment also supported the local unit, though rising crude oil prices and geopolitical uncertainties limited significant gains. The rupee rose 6 paise to 90.85 against the US dollar in early trade on Thursday on the back of a weaker greenback and FII inflows. A positive start to the session at the domestic equity markets lent further support to the local unit while a rise in global crude oil prices, coupled with geopolitical uncertainties, capped sharp gains, according to forex traders. At the interbank foreign exchange, the rupee opened at 90.86 against the greenback before inching up to 90.85, higher by 6 paise from its previous close. The rupee stayed range-bound and settled with a gain of 4 paise at 90.91 against the US dollar on Wednesday. "As the dollar index fell and Asian currencies gained today (Thursday) the rupee opened higher... A risk-on sentiment in the markets and RBI selling near 91.00 levels ensured yesterday (Wednesday) also that rupee is unable to cross 91.00 levels with FPIs being buyers of equity and sellers of dollars," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. Live Events Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.13 per cent down at 97.57. Brent crude, the global oil benchmark, rose 0.21 per cent to USD 71.00 per barrel in futures trade. On the domestic equity market front, the Sensex climbed 303 points to 82,579.16 in early trade, while the Nifty rose 85.1 points to 25,567.60. On Wednesday, foreign institutional investors purchased equities worth Rs 2,991.64 crore, according to exchange data. (You can now subscribe to our ETMarkets WhatsApp channel) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price ...moreless (You can now subscribe to our ETMarkets WhatsApp channel) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price ...moreless Soft drink’s Jio moment? RIL’s Campa tests Coke-Pepsi duopoly of 30 years. From Delaware to Gandhinagar: Is India finally closing the offshore gap? 2 years, 198 IPOs, just 35 winners: The brutal math of India’s IPO boom Meesho and Valmo’s growth sprint: Can scale deliver durable advantage? Stock Radar: Colgate Palmolive stock moves above the Alligator indicator – time to buy? Cement stocks: Will they be sustainably re-rated this time? 16 stocks catering to different regions with wide-ranging upside potential 1 2 3