At the interbank forex, the domestic unit opened at 81.43 against the dollar, then rose to 81.42, registering a gain of 50 paise over its previous close.
At the interbank forex, the domestic unit opened at 81.43 against the dollar, then rose to 81.42, registering a gain of 50 paise over its previous close.
The rupee rose 50 paise to 81.42 against the dollar in early trade on November 9 on broader dollar weakness and improving global risk sentiment.
Forex traders said sustained foreign fund inflows also supported the local unit.
At the interbank foreign exchange, the domestic unit opened at 81.43 against the dollar, then rose to 81.42, registering a gain of 50 paise over its previous close.
Read also: Rupee gains 45 paise to close at 81.90 against US dollar
The rupee had closed at 81.92 against the US dollar on November 7.
The forex market was closed on 8 November on account of Guru Nanak Jayanti.
IFA Global Research Academy said in a research note that the rupee strengthened on November 7 and further strengthened in offshore trade on the back of broader US dollar weakness and positive global risk sentiment.
It added that the inflow picture is improving with the return of FPI inflows into domestic equities (already close to $2 billion in the first few sessions of November).
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.01% to 109.64.
Global oil benchmark Brent crude futures fell 0.30% to $95.07 a barrel.
In the domestic equity market, the 30-share BSE Sensex was trading 130.28 points higher at 61,315.43 and the broader NSE Nifty was up 85.65 points at 18,202.80.
Foreign institutional investors (FIIs) were net buyers in the capital market as they bought shares worth Rs 1,948.51 crore on Monday, according to exchange data.