Rupee rises 4 paise to 82.33 against US dollar on positive domestic equity
The rupee appreciated by 4 paise to 82.33 against the US dollar in early trade on Wednesday, tracking positive sentiments in the domestic equity market and relatively weaker dollar against major currencies.
At the interbank foreign exchange, the domestic unit opened stronger at 82.32 against the US dollar and then gained ground to 82.30. Later, it slipped to 82.33 against the greenback, registering a rise of 4 paise against its previous close.
On Tuesday, the rupee settled at 82.37 against the US dollar.
Anand James, Chief Market Strategist at Geojit Financial Services, said there could be slippage to 82 level. "It would require consistent trades above 82.36 to rekindle positivity again."
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.10 per cent lower at 103.49.
Global oil benchmark Brent crude futures rose 1.21 per cent to USD 78.39 per barrel.
The 30-share BSE Sensex was trading 403.21 points or 0.70 per cent higher