Rupee Rises To 77.93 Against Dollar As Crude Oil Prices Ease

The rupee strengthened by 12 paise to 77.93 against the US dollar in opening trade on Monday as easing crude oil prices supported the local unit.

The rupee strengthened by 12 paise to 77.93 against the US dollar in opening trade on Monday as easing crude oil prices supported the local unit.

However, unabated foreign fund outflows, a lacklustre trend in domestic equities and strong American dollar overseas restricted the gain, forex dealers said.

At the interbank foreign exchange, the rupee opened strong at 77.98 against the US dollar, then inched higher to quote 77.93, registering a rise of 12 paise over the last close.

In the previous session, the rupee advanced 5 paise to settle at 78.05 against the US dollar.