Rupee trades flat against dollar in early trade

Rupee trades flat against dollar in early trade

In the previous session on Friday, the rupee dipped 3 paise to close at 82.82 against the dollar

FPJ Web DeskUpdated: Monday, December 26, 2022, 10:50 AM IST
article-image
Image credit: Wikipedia (Representative)

In early trade, the rupee trades at parity with the dollar. Monday's session began with the rupee trading unchanged against the US dollar due to rising crude oil prices and ongoing capital flight from the country.

At the interbank foreign exchange, the rupee opened at 82.79 against the dollar and lost ground to later trade at 82.83, registering a fall of 1 paisa over the last close.

In the previous session on Friday, the rupee dipped 3 paise to close at 82.82 against the dollar.

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.11 per cent lower at 104.31.

On the domestic equity market front, the 30-share Sensex was trading 434.69 points or 0.73 per cent higher at 60,279.98, while the broader NSE Nifty advanced 128 points or 0.72 per cent to 17,934.80.

Brent crude futures rose 3.63 percent to USD 83.92 per barrel, the global oil benchmark.

Foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth Rs 706.84 crore, as per stock exchange data.

Experts said the USD/INR pair is expected to remain in a period of consolidation, as the global market tries to adjust to the constant re-evaluation of the dollar.

In the near future, any investment decision is likely to be difficult due to growing anxiety over the resurgence of COVID-19.

(To receive our E-paper on WhatsApp daily, please click here.  To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

SCHOTT enters PPA with CleanMax for wind solar hybrid project

SCHOTT enters PPA with CleanMax for wind solar hybrid project

Maiden Forgings IPO opens on March 23

Maiden Forgings IPO opens on March 23

PNB Scam: Interpol’s decision to remove Mehul Choksi from Red Corner Notice ‘faulty’

PNB Scam: Interpol’s decision to remove Mehul Choksi from Red Corner Notice ‘faulty’

Mastek Vice-Chairman Ashank Desai to become Non-Executive Chairman from April

Mastek Vice-Chairman Ashank Desai to become Non-Executive Chairman from April

Tata Power secures 200 MW solar PV project in Solapur

Tata Power secures 200 MW solar PV project in Solapur