Rupee trades flat against US dollar at 82.02 amid stocks rally

The rupee traded almost flat at 82.02 against the US dollar in early trade on Friday, June 30, 2023, amid gains in the domestic equities and firm crude oil prices.

The rupee opened weak at 82.05 at the interbank foreign exchange market due to firm crude oil prices in the Asian trade. It moved in a tight range of 82.01 to 82.07 in early trade.

The local unit was trading at 82.02 against the US dollar at 0940 hours, showing gains of just 1 paisa over the last close of 82.03 on June 28.

Forex markets were closed on June 29 on the occasion of Bakrid holiday.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading down by 0.06 per cent to 103.28.

Global crude oil benchmark Brent crude was trading 0.40 per cent higher at USD 74.64 per barrel.

In the domestic equity market, benchmark indices Sensex and Nifty hit their all-time high in early trade. The 30-share BSE Sensex hit the record high of 64,414.84 and the Nifty scaled the peak of 19,108.20 points in early trade amid fresh foreign fund inflows.

Sensex closed at a lifetime high of 63,915.42, up by 499.39 points or 0.79 per cent. NSE Nifty also closed at a record high of 18,972.10, up by 154.70 points or 0.82 per cent on Wednesday.

Foreign Portfolio Investors emerged as net buyers in the capital market on Wednesday as they bought shares worth Rs 12,350 crore, according to exchange data.