Rupee rises 3 paise to 81.96 against US dollar in early trade

The rupee gained 3 paise to 81.96 against the US dollar in early trade on Tuesday, 11 April as increasing crude oil prices offset the bullishness of rising local stocks and a weaker US currency. The rupee  settled at 81,99 on Monday, 10 April.

The dollar index, which compares the value of the dollar to other six currencies also, was last trading 0.22 per cent lower at 102.35. The index compares the dollar to the yen, the pound, the Canadian dollar, the Swedish krona, the Swiss franc, and the euro.

Meanwhile, Brent crude futures, the benchmark for all crude oil, increased by 0.64 per cent to $84.72 a barrel. However,  the investors are currently waiting for the release of US and Indian inflation statistics as well as the Federal Open Market Committee (FOMC) minutes, which are now essential in deciding the direction of the market.

On the domestic equity market side, BSE Sensex was trading 299.81 points or 0.50 per cent higher at 60,142.32 points, while the broader NSE Nifty advanced 0.50 per cent or 87.40 points at 17,711.80 points at 10.41 AM IST today.