Rupee rises 12 paise to 82.08 against dollar in early trade

The rupee gained 12 paise to 82.08 against the US dollar in early trade on Friday supported by easing crude oil prices and a positive trend in domestic equities.

Big dollar demand from importers and significant outflows of foreign funds, according to forex traders, could weigh on the local currency and limit its tendency to appreciate.

The native currency at the interbank foreign exchange started out at 82.15 versus the dollar before moving up and touching 82.08, rising 12 paise from its previous finish.

The rupee also hit a low of 82.22 against the dollar in early trade.

On Thursday, the rupee fell 40 paise to close below the 82 per dollar mark.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.09 per cent to 101.84.

Brent crude futures fell 0.10 percent to USD 82.09 per barrel, the global oil benchmark.

In the domestic equity market, the 30-share BSE Sensex was trading 348.05 points or 0.58 per cent higher at 60,280.29. The broader NSE Nifty advanced 51.05 points or 0.29 per cent to 17,661.45.

Foreign Institutional Investors (FIIs) were net sellers in the capital market on Thursday as they offloaded shares worth Rs 3,065.35 crore, according to exchange data.

With inputs from Agencies.