Rupee appreciates 33 paise to 81.77 against US dollar in early trade
The rupee gained 33 paise to 81.77 against the US dollar in early trade on Monday supported by sustained foreign fund inflows and bullish momentum in domestic equities as benchmark indices touched all-time highs.
At the interbank foreign exchange, the domestic unit opened at 82.01 against the dollar and then rose to 81.77, registering a gain of 33 paise over its previous close.
On Friday, the rupee closed at 82.10 against the US currency.
Forex traders said the rupee is trading on a positive note on significant foreign fund inflows and positive macro economic indicators.
According to Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, the rupee is likely to trade in the range of 81.90 to 82.20 during the day.
"... Rupee looks to remain in the above range as Macro data from India comes out much better than most other countries. The GST figures, the core sector growth were all better than expected," Bhansali said.
Foreign Portfolio Investor