The rupee gains 6 paise to 76.44 against the US dollar in early trade


The rupee appreciated 6 paise to 76.44 against the US dollar at the open on Monday, amid a fall in global crude prices.

However, a weak trend in domestic stocks and a strong dollar in the overseas market limited the rupee’s gains, forex traders said.

On the interbank foreign exchange exchange, the rupee opened strong at 76.48 and gained further ground to trade at 76.44 against the US dollar, up 6 paise from the last close.

In the previous session, the rupee had settled at 76.50 against the greenback.

On the domestic stock market front, the 30-stock Sensex was down 336.59 points, or 0.59%, to 56,724.28, while the broader NSE Nifty was down 102.60 points, or 0.60%, to 16,999.95.

The dollar index, which measures the dollar’s strength against a basket of six currencies, rose 0.43% to 103.40.

Global oil benchmark Brent crude futures were down 0.94% to $106.13 a barrel.

Overseas institutional investors remained net sellers in the capital market on Friday, as they sold ₹3,648.30 crore of shares, according to stock market data.

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