The Indian rupee gained 6 paise against the dollar in early trade on Thursday, reaching 82.02.

The spike in crude oil prices, according to currency traders, restrained the gains for the local currency. An increase of 6 paise from the previous closing of 82.08 on Wednesday can be seen in the interbank foreign exchange market, which started at 82.05 and reached a high of 82.02 against the US dollar.
The rupee was supported, according to foreign exchange traders, by the US dollar’s weakening and the ongoing infusion of foreign capital. However, worries about the local unit surfaced as a result of the sharp increase in crude oil prices, since it may limit the economic benefits. The Federal Reserve will decide on interest rates next week, and traders are eager to see what signals it will provide because its decision would have an influence on the rupee and dollar markets.

The US dollar’s strength versus six major currencies is measured by the Dollar Index, which fell by 0.22 percent to reach 100.06. The price of a barrel of benchmark Brent crude oil jumped by 0.13 percent to $79.56.
The 30-share BSE Sensex was down 49.46 points, or 0.07 percent, on the domestic equities market, trading at 67,047.98, while the larger Nifty NSE index fell 13.45 points, or 0.07 percent, to 19,819.70.

According to exchange data, foreign institutional investors (FIIs) bought shares worth 1,165.47 crores on the capital market on Wednesday.

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