Rupee surges 5 paise to 79.82 against dollar in early trade

The rupee rose 5 paise to 79.82 against the US dollar in early trade on Monday, after a strong trend in domestic equities.

According to forex dealers, the rupee is trading in a limited range due to the strengthening of the US dollar in the international market and rising crude oil prices, which are impacting investor mood.

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The rupee began at 79.84 against the dollar on the interbank foreign exchange and soon fell to 79.82, a 5-paise gain from the previous close. The rupee closed at 79.87 per dollar on Friday.

The dollar index, which measures the strength of the US currency against a basket of six currencies, rose 0.39% to 109.95.

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Brent crude futures rose 1.96% to USD 94.84 a barrel, the global oil benchmark.

The Sensex was trading 129.41 points, or 0.22%, higher at 58,932.74 points, while the Nifty was up 44.35 points, or 0.25%, at 17,583.80 points on Monday.

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Delta Corp is the stock/security that has been placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Monday, September 5, 2022.

The foreign institutional investors (FIIs) sold shares worth a net Rs 8.79 crore, while domestic institutional investors (DIIs) offloaded shares worth a net Rs 668.74 crore in the Indian equity market on September 2, as per provisional data available on the NSE.  

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The US markets had ended lower on Friday. The S&P 500 fell 42.59 points, or 1.1%, to 3,924.26. The Dow Jones Industrial Average fell 337.98 points, or 1.1%, to 31,318.44. The Nasdaq fell 154.26 points, or 1.3%, to 11,630.86. The Russell 2000 index of smaller companies fell 13.07 points, or 0.7%, to 1,809.75.