Rupee trades flat against US dollar in early trade

The rupee traded almost flat at 81.95 against the US currency in the opening trade on Monday amid gains in local stocks and losses in the dollar against major rivals in global markets. The domestic currency opened lower by 4 paise at 82.00 against the dollar at the interbank foreign exchange market. The currency moved in a narrow range before trading at 81.95 against the greenback, appreciating just 1 paisa compared to the closing level of 81.96 on Friday.

The dollar index, which gauges the greenback's strength against a basket of six currencies, eased 0.16 per cent to 102.73. Crude oil price benchmark Brent crude was up 0.19 per cent to USD 73.99 per barrel. In the domestic equity market, the 30-share BSE Sensex rose 105.07 points or 0.17 per cent to 63,084.44 points and the broader Nifty gained 49.15 points to 18,714.65 points in early trade.

Foreign Portfolio Investors (FPIs) were net sellers in the capital market on Friday as they offloaded shares worth Rs 344.81 crore, according to exchange data.