Rupee strengthens against US dollar in early trade


Mumbai | SEPT 18, 2020 (PTI): 

The rupee strengthened by 33 paise to 73.33 against the US dollar in opening trade on Friday as weak American currency and positive domestic equities buoyed investor sentiment.

At the interbank forex market, the domestic unit opened at 73.47 against the US dollar, then gained further ground and touched 73.33, registering a rise of 33 paise over its previous close.

On Thursday, rupee depreciated by 14 paise to end at 73.66 against the US dollar.

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The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.07 per cent to 92.90.

On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 97.81 points higher at 39,077.66, and the broader NSE Nifty advanced 41.30 points to 39,077.66.

Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 249.82 crore on a net basis on Thursday, according to exchange data.

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Brent crude futures, the global oil benchmark, rose 0.55 per cent to USD 43.54 per barrel.