Indian rupee rises 13 paise to 81.82 against dollar

Foreign fund inflows boosted the rupee's value by 13 paise to 81.82 against the early trade on Thursday.

The domestic unit opened at 81.93 against the dollar, then rose to 81.82, a rise of 13 paise over its previous close.

The rupee was trading at 81.95 against the US currency on Wednesday.

The dollar index, which gauges the strength of the dollar against a basket of six currencies, fell 0.02 per cent to 105.63.

CR Forex Advisors MD Amit Pabari said that the FDI and FPIs have acted as life support for the rupee, despite the higher US bond yields and risk-off tilted equity sentiment.

They FPIs are net investors with more than 10,000 crore in equities in March. We could see rupee trading in the range of 81.50 to 82.50 over the short-term, Pabari said.

Foreign Institutional Investors FIIs were net buyers in the capital market on Wednesday as they purchased shares worth Rs 3,671. According to exchange data, 56 crore were said to be in the hands of the exchange.

The global oil benchmark, Brent crude futures, went up 0.02 per cent to USD 82.66 per barrel on Thursday.

The 30-share BSE Sensex fell to 60,216 on Thursday, down 131.61 points or 0.22 per cent in the domestic equity market. 48 points. The NSE Nifty declined 33.30 points or 0.19 per cent to 17,721. 10 points.