Rupee rises 6 paise to 82.91 in opposition to US greenback in early commerce

The rupee sustained its upward momentum for the third straight session and gained 6 paise to 82.91 in opposition to the US greenback in early commerce on Wednesday, monitoring a weak American foreign money and constructive fairness market sentiment.

Nonetheless, promoting stress from international fairness traders amid elevated degree of crude oil costs resisted a pointy acquire within the home foreign money, analysts mentioned.

On the interbank international alternate, the home foreign money opened at 82.90 and slipped to 82.91 in opposition to the buck in preliminary offers, registering a acquire of 6 paise from its earlier shut.

• Additionally learn: Weekly Rupee View: USD correction may push rupee up

The rupee settled 4 paise larger at 82.97 in opposition to the US greenback on Tuesday, a day after gaining 4 paise within the previous buying and selling session on Friday. The foreign money market was closed on Monday on account of Chatrapati Shivaji Maharaj Jayanti.

In the meantime, the greenback index, which gauges the buck’s power in opposition to a basket of six currencies, was 0.07 per cent decrease at 103.90.

Brent crude futures, the worldwide oil benchmark, superior 0.41 per cent to $82.68 per barrel.

Within the home fairness market, the 30-share BSE Sensex was buying and selling 43.64 factors or 0.06 per cent larger at 73,101.04 factors. The broader NSE Nifty climbed 15.30 factors or 0.07 per cent to 22,212.25 factors.

International Institutional Traders (FIIs) have been web sellers within the capital markets on Tuesday as they offloaded shares price ₹1,335 crore, based on alternate information.