Rupee rises 12 paise to 78.94 in opposition to US greenback in early commerce

The rupee appreciated 12 paise to 78.94 in opposition to the US greenback in opening commerce on Tuesday, supported by overseas fund inflows and a weak buck in opposition to key rivals abroad.

Besides, softening crude oil costs strengthened home foreign exchange market sentiment, sellers stated.

At the interbank overseas trade, the rupee opened sharply up at 78.96 in opposition to the US greenback and gained additional floor to cite at 78.94 in preliminary offers, registering an increase of 12 paise over the past shut.

In the earlier session, the rupee had closed at 79.06 in opposition to the US greenback.

The greenback index, which gauges the buck’s energy in opposition to a basket of six currencies, fell 0.22 per cent to 105.21.

Global oil benchmark Brent crude futures fell 1.05 per cent to USD 98.98 per barrel.

On the home fairness market entrance, the 30-share Sensex was buying and selling 88.55 factors or 0.15 per cent decrease at 58,026.95, whereas the broader NSE Nifty fell 35.65 factors or 0.21 per cent to 17,304.40.

Foreign institutional buyers had been web patrons within the capital market on Monday, buying shares value Rs 2,320.61 crore, as per trade information.