The rupee gained 9 paise to 82.16 against the US dollar in early trade on Thursday as crude oil prices retreated from its elevated levels.
Forex traders said a positive trend in domestic equities also supported the local unit.
At the interbank foreign exchange, the domestic unit opened at 82.21 against the dollar, then rose to 82.16, registering a rise of 9 paise over its previous close.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
On Wednesday, the rupee closed at 82.25 against the US currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.03 per cent to 101.93.
Brent crude futures, the global oil benchmark, declined 1 per cent to USD 82.29 per barrel.
"Crude oil was unable to hold on to its previous session's gains and plunged again amid growing concerns of economic recession and Fed rate hike fears," said Rahul Kalantri, VP Commodities, Mehta Equities Ltd.
Kalantri further noted that "two of the Fed officials advocated for further interest rate hikes due to inflation concerns while the dollar index and the US bond yields also jumped again that restricted gains of global commodities." In the domestic equity market, the 30-share BSE Sensex advanced 229.93 points or 0.39 per cent to 59,797.73. The broader NSE Nifty gained 51.30 points or 0.29 per cent to 17,670.05.
Foreign Institutional Investors (FIIs) were net buyers in the capital market on Wednesday as they offloaded shares worth Rs 13.17 crore, according to exchange data.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.