RUPEE RISES 4 PAISE TO 83.01 AGAINST US DOLLAR IN EARLY TRADE

The rupee opened stronger against the US dollar on Friday, gaining 4 paise to reach 83.01 in early trade. This positive movement was attributed to favorable trends in the domestic equity markets. However, the rupee faced pressure from a robust American currency and elevated crude oil prices. Starting at 83.03 against the greenback in initial deals, the rupee improved to 83.01, marking a 4 paise increase from its previous close. In Thursday's trading session, the rupee had settled slightly lower at 83.05 against the US dollar.

Meanwhile, the dollar index, which measures the dollar's performance against a basket of six major currencies, showed a slight uptick at 104.32, rising by 0.12 percent. On the commodities front, Brent crude futures, the global oil benchmark, were trading marginally lower at USD 82.80 per barrel, adding to the pressure on the rupee. In the domestic stock market, the BSE Sensex surged by 302.55 points or 0.42 percent, reaching 72,352.93 points, while the broader NSE Nifty climbed by 95.90 points or 0.44 percent to 22,006.65 points.

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