Dollar vs Rupee: In early trade on Wednesday, the rupee strengthened 50 paise to 81.42 against the US dollar as a result of widespread dollar weakening and an uptick in risk appetite around the world.
Continual infusions of foreign capital, according to forex traders, also strengthen the local currency.
The local unit started out at 81.43 versus the dollar on the interbank foreign exchange but gradually increased to 81.42, gaining 50 paise from its previous finish.
The rupee had a Monday closing value of 81.92 against the US dollar.
On Tuesday, the FX market was closed in observance of Gurunanak Jayanti.
The rupee had risen on Monday.
IFA Global Research Academy stated in a research report that the rupee had strengthened on Monday and had appreciated further in offshore trading on broad US dollar weakness and favourable global risk sentiment.
With FPI inflows into domestic stocks returning (already close to USD 2 billion in the first few sessions of November), the flow picture is improving, it was said.
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The Dollar vs Rupee index, which measures the strength of the dollar against a basket of six different currencies, increased 0.01 percent to 109.64.
The benchmark for world oil, Brent crude futures, decreased 0.30% to USD 95.07 a barrel.
The 30-share BSE Sensex was trading 130.28 points higher at 61,315.43 on the domestic equities market, and the larger NSE Nifty was up 85.65 points at 18,202.80.
According to exchange data, Foreign Institutional Investors (FIIs) were net purchasers in the capital markets on Monday, buying shares worth 1,948.51 crore.
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