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Firm crude oil prices and foreign exchange outflows in capital markets capped rupee gains, according to forex dealers
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The Indian rupee strengthened against the greenback and the UAE dirham at the opening trade on Thursday, amid a weaker greenback and early gains in Indian stocks.
However, firm crude oil prices and foreign currency outflows in capital markets capped the rupee’s gains, according to currency traders.
In the Indian interbank foreign exchange market, the rupee opened at 82.78 to the dollar (22.55 to the UAE dirham), compared with the previous close of 82.84.
The rupee appreciated further, touching a high of 82.73 before trading at 82.74, up 10 paise from the previous close.
Meanwhile, the U.S. dollar index , which measures the greenback’s strength against a basket of six currencies, fell 0.28% to 103.87.
Brent crude futures, the global oil benchmark, rose 0.45% to $82.57 a barrel.
In Indian stocks, the 30-share BSE Sensex gained 397.14 points to 61,464.38, while the NSE Nifty gained 119.65 points to 18,318.75.
Foreign institutional investors (FII) turned net sellers in the capital market on Wednesday as they sold shares worth Rs 1,119 crore, according to exchange data.
(according to PTI input)
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