Rupee rises 3 paise against US dollar in early trade
Mumbai: The rupee advanced by 3 paise to 72.34 against the US dollar in opening trade on Tuesday, as easing crude oil prices and buying trends in equity markets lifted sentiment.
The rupee's gains were, however, restricted as investors turned a bit cautious due to the rising US dollar amid foreign fund outflows.
At the interbank forex market, the local unit opened flat at 72.37 against the US dollar, then gained some strength to quote at 72.34, a rise of 3 paise over its last close.
In the previous session, the rupee had settled at 72.37 against the American currency.
Global oil benchmark Brent crude futures fell 0.94 percent to USD 64.01 per barrel.
On the domestic equity market front, the BSE Sensex was trading 90.66 points or 0.18 percent higher at 49,861.95 in early deals, while the broader NSE Nifty rose 32.10 points or 0.22 percent 14,768.50.
Foreign institutional investors were net sellers in the capital market on Monday as they sold shares worth Rs 786.98 crore, as per exchange data.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.16 percent to 91.88.
