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Mumbai: Rupee appreciates 9 Paise to 79.81 against the US dollar in early trade on Monday, supported by a decrease in crude oil prices. In Foreign Eversal Interbank, Rupee opened 79.86 against the US dollar. In early trade, the local currency witnessed 79.81 and low 79.87 against the US dollar. In the previous session, Rupee was closed at 79.90 against the American currency.
Meanwhile, the dollar index, which measured the strength of the greenback against a basket of six currencies, fell 0.10 percent to 106.62. The Global Oil Brent Oil Benchmark is down 0.54 percent to USD 102.62 per barrel.
According to Anil Kumar Bhansali, Head of the Treasury, Finrex Financial Advisor, Rupees opened higher when the oil moved down with a lower dollar index. Euro has not been able to rise as many markets waiting for cues from the meeting of the Federal Open Market Committee (FOMC) on July 27.
Meanwhile, because not much data is available, Rupee will see a bound movement between 79.60 to 79.90 for that day, said Bhansali. At the front of the domestic equity, 30-share Sensex is traded 95.33 points or 0.17 percent lower at 55,976.90, while NSE NIFTY is decreasing 31.80 points or 0.19 percent to 16,687.65.
Foreign Institutional Investors (FII) are clean sellers in the capital market on Friday because they sell shares worth RS 675.45 Crore, according to exchange data.
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