The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.05% to 108.51.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.05% to 108.51.
The rupee appreciated by 6 paise to 79.86 against the US dollar in early trade on Friday on inflow of foreign funds and a firm trend in domestic equities.
At the interbank foreign exchange, the domestic unit opened higher at 79.87 against the dollar and rose 6 paise to touch 79.86 against its previous close.
In the previous session, the rupee had depreciated by 6 paise at 79.92 against the US currency.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.05% to 108.51.
Global oil benchmark Brent crude futures rose 0.83% to $100.16 a barrel.
Forex traders said, the rupee is expected to see range-bound trading this Friday, as investors await Federal Reserve Chairman Jerome Powell’s speech for further clues on the pace of rate hikes by the US central bank.
“Higher oil prices and a weak opening in Asian and emerging markets could limit bias,” said Sriram Iyer, Senior Research Analyst, Reliance Securities.
In the equity markets, the 30-share BSE Sensex was trading at 59,246.37, up 471.65 points or 0.80%. Similarly, the broader NSE Nifty rose 139.50 points or 0.80% to 17,661.95.
Foreign institutional investors (FIIs) remained net buyers in the capital market as they bought shares worth Rs 369.06 crore on Thursday, according to provisional data.