Rupee gains 15 paise to 75.63 against US dollar in early trade

The rupee appreciated 15 paise to 75.63 against the US dollar in opening trade on Monday, tracking a positive trend in domestic equities.

However, surging crude prices in the international market and unabated foreign capital outflows capped the appreciation bias in the local unit, traders said.

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At the interbank foreign exchange, the rupee opened strong at 75.64 and inched up to quote 75.63 against the American dollar in early deals, registering a rise of 15 paise from the last close.

On Friday, the rupee dropped by 18 paise to an over 16-month low of 75.78 against the US dollar.

On the domestic equity market front, the 30-share Sensex was trading 206.46 points or 0.35 per cent higher at 58,993.13, while the broader NSE Nifty advanced 86.50 points or 0.49 per cent to 17,597.80.

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.10 per cent to 96.18.

Global oil benchmark Brent crude futures rose 1.30 per cent to USD 76.13 per barrel.

Foreign institutional investors remained net sellers in the capital market on Friday, as they offloaded shares worth Rs 1,092.40 crore, as per exchange data.

On the macro-economic front, India's industrial production growth remained subdued for the second straight month and expanded by 3.2 per cent in October, mainly due to the waning low base effect while mining, power and manufacturing sectors performed well.