Currency Market News: Rupee trades on a flat note at 83.50 vs dollar in early session
The Indian rupee edges nearer to the 83.50 mark against the US dollar in early trading, influenced by global market conditions and stable crude oil prices.
![Currency Market News: Rupee trades on a flat note at 83.50 vs dollar in early session](https://cdn.zeebiz.com/sites/default/files/2024/07/09/303818-rupee-1.jpg?im=FitAndFill=(1200,900))
The rupee traded flat at 83.50 against the US currency in the opening session on Tuesday as the impact of a firm dollar in the overseas markets was offset by easing crude oil prices.
At the interbank foreign exchange market, the rupee opened marginally up 1 paisa at 83.49 against the American currency. The local unit moved in a narrow range of 83.49 to 83.51 in restricted trade in the opening session.
The rupee traded at 83.50 to a US dollar at 0925 hrs. The domestic unit had closed at 83.50 against the US dollar on Monday.
According to forex traders, the rupee moved in a tight range in the early session due to mixed global cues.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 105.03, higher by 0.03 per cent.
Brent crude, the global oil benchmark, eased by 0.28 per cent to USD 85.51 per barrel.
Domestic equity markets were trading higher in early trade, supporting the local unit. Benchmark Sensex rose 194.25 points or 0.24 per cent to 80,154.63 while broader Nifty was up 42.35 points or 0.17 per cent at 24,362.90.
Foreign institutional investors (FIIs) were net buyers in the capital markets on Monday, as they purchased shares worth Rs 60.98 crore, according to provisional data by stock exchanges.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/personal-finance/photo-gallery-top-mutual-fund-sip-calculator-best-highest-returns-monthly-investment-of-inrrs-21000-in-them-has-turned-into-1-crore-in-10-years-quant-nippon-motilal-oswal-elss-small-id-cap-infra-thematic-312743](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/04/316403-rupee-pixabay-take-2.jpg?itok=doDkJFa3)
Top SIP Mutual Funds in 10 Years: Monthly SIP of Rs 21,000 in these 6 mutual funds has turned into at least Rs 1 crore in 10 years; get their names
![https://www.zeebiz.com/personal-finance/photo-gallery-sip-investment-formula-10x20x15-becomes-crorepati-15-years-10k-monthly-investment-know-calculation-benefits-mutual-funds-312790](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/04/316452-sip-investment2.jpg?itok=O_yJWwry)
10X20X15 Formula: In how many years Rs 10,000 monthly SIP will grow to Rs 1.51 crore; see calculations
![https://www.zeebiz.com/market-news/news-stocks-to-buy-ramkrishna-forgings-mahindra-holidays-rail-vikas-nigam-ltimindtree-bajaj-finserv-star-health-insurance-hdfc-securities-recommendation-picks-target-stop-loss-bse-nse-312885](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/04/316561-20.jpg?itok=nYhQjOTp)
Stock to buy for up to 3 months: Brokerage recommends buying these 7 stocks for potential gain | Check target, stop loss
![https://www.zeebiz.com/personal-finance/photo-gallery-power-of-inr-rs-2000-sip-calculator-how-these-mutual-funds-have-converted-2000-monthly-investment-into-up-to-50928437-hdfc-elss-tax-saver-flexi-nippon-india-franklin-mnc-crore-thematic-aum-nav-312966](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/05/316636-note-pixabay-take.jpg?itok=y4ESr6pK)
Power of Rs 2,000 SIP: Mutual funds that have converted Rs 2,000 monthly SIP into up to Rs 5,09,28,437; get calculations
10:44 AM IST