Representative file image. , Photo Credit: AP
The rupee reversed a four-day losing streak and appreciated 25 paise to 82.51 against the US dollar in early trade on March 17 amid positive trends in domestic as well as global equity markets.
At the interbank foreign exchange, the domestic unit opened higher at 82.50 against the US dollar and declined further to 82.54. Later, it traded marginally higher by 25 paise at 82.51.
On Thursday, the rupee fell for the fourth day in a row and closed at 82.76 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was 0.28% lower at 104.12.
Global oil benchmark Brent crude futures rose 1.10% to $75.12 a barrel.
The 30-share BSE Sensex was trading 410.04 points or 0.71% higher at 58,044.88, while the broader NSE Nifty was up 117.20 points or 0.69% at 17,102.80.
A lifeline for troubled US and European banks amid concerns about the health of the global banking system boosted investor sentiment.
Foreign institutional investors (FIIs) were net sellers in the capital market on Thursday as they sold shares worth ₹282.06 crore, according to exchange data.