Rupee gains 12 paise to 82.08 against dollar

The rupee gained 12 paise to 82.08 against the early trade on Friday as a result of easing crude oil prices and a positive trend in domestic equities.

Foreign fund outflows and dollar demand from importers may affect the local unit and restrict the appreciating bias, according to traders.

The domestic unit opened at 82.15 against the dollar at the interbank foreign exchange, gained ground and touched 82.08, registering a rise of 12 paise over its previous close.

In initial trade, the rupee touched a low of 82.22 against the American currency.

On Thursday, the rupee fell by 40 paise to close below the 82 per mark.

The dollar index, which gauges the strength of the greenback against a basket of six currencies, rose 0.09 per cent to 101.84.

The global oil benchmark, Brent crude futures, declined by 0.10 per cent to USD 82.09 per barrel.

In the domestic equity market, the 30 share BSE Sensex was trading 348.05 points or 0.58 per cent higher at 60,280. The broader NSE Nifty increased 51.05 points or 0.29 per cent to 17,661. Foreign Institutional Investors FIIs were net sellers in the capital market on Thursday as they offloaded shares worth Rs 3,065. According to exchange data, 35 crore were reported to be affected.