Rupee gains 19 paise to 82.19 against dollar

The rupee appreciated 19 paise to 82.19 against the dollar's weakness and a firm trend in domestic equity in early trade on Friday.

Forex traders said that sustained foreign fund outflows weighed on investor sentiments and restricted appreciation bias.

The domestic unit opened at 82.30 against the dollar, and gained ground to reach 82.19, registering a rise of 19 paise over its previous close.

The rupee fell by 0.23 per cent to 104.53. On Thursday, the dollar index, which measures the dollar's strength against a basket of six currencies, fell to 9 paise higher at 82.38.

With China relaxing its COVID restrictions such as mass testing, lockdowns and quarantine requirements, it's widely believed that cases and deaths could cause widespread economic disruptions. This is something we need to keep a close eye on, according to the research note from the IFA Global Research Academy.

The global oil benchmark of Brent crude futures rose by 0.89 per cent to USD 76.83 per barrel.

The 30 share BSE Sensex was trading 25.7 points or 0.04 per cent higher in the domestic equity market, at 62,596. The NSE Nifty was up 19.25 points or 0.1 per cent to 18,628, a gain of 19.25 points or 0.1 per cent. Foreign Institutional Investors FIIs were net sellers in the capital markets on Thursday as they offloaded shares worth Rs 1,131. According to exchange data, there are 67 crore.