Rupee rises 2 paise to 82.61 against US dollar

Rupee rises 2 paise to 82.61 vs US$ on weak greenback, retreating crude oil prices & positive domestic equity markets. FIIs offloaded shares worth ₹1,393.25 cr. US jobs data & Chinese currency's response to macroeconomic indicators eyed. BSE Sensex up 0.28% & Nifty up 0.28%.

The rupee appreciated by 2 paise to 82.61 against the US dollar in early trade on Tuesday amid a weak American currency against major rivals overseas and positive domestic equity markets.

Retreating crude oil prices also supported the Indian currency even as outflow of foreign funds capped a sharp gain, forex traders said.

At the interbank foreign exchange, the domestic unit opened at 82.58, then touched the lowest level of 82.62. It later traded at 82.61 against the greenback, registering a gain of 2 paise over its previous close.

On Monday, the rupee settled 1 paisa higher at 82.63 against the US dollar.

The Indian currency was trading in the narrow range as market participants are awaiting the US jobs data to be released on Friday. Also, a close watch on the Chinese currency's response to the country's slowing factory output and other macroeconomic indicators weighed on the rupee, forex analyst said.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.20 per cent lower at 103.85.

Brent crude futures, the global oil benchmark, fell 0.05% to USD 84.38 per barrel.