Rupee gains 12 paise to 81.96 against U.S. dollar in early trade

The rupee appreciated 12 paise to 81.96 against the U.S. dollar in early trade on July 14, as a strong opening in domestic equity markets and a weaker greenback against major rivals overseas strengthened investor sentiments

The rupee appreciated 12 paise to 81.96 against the U.S. dollar in early trade on Friday, July 14, as a strong opening in domestic equity markets and a weaker greenback against major rivals overseas strengthened investor sentiments.

However, strengthening crude prices in international markets capped the gains in the domestic unit, forex traders said.

At the interbank foreign exchange, the domestic unit opened strong at 81.97 against the dollar and then gained further momentum to 81.96, a gain of 12 paise over its previous close.

In the initial trade, the domestic unit was moving in a narrow range of 81.92-81.97 against the American currency.

In the previous session on Thursday, July 13, the rupee had settled at 82.08 against the dollar.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.19% to 99.26.

Brent crude futures, the global oil benchmark, rose 0.11% to $81.45 per barrel.