Rupee rises 3 paise to 73.08 against US dollar in early trade

rupee appreciated 3 paise to 73.08 against US dollar in opening tre on Thursday, tracking positive domestic equities and weak American currency. At interbank forex market, domestic unit opened at 73.10 against US dollar and inched higher to 73.08 against greenback, registering a rise of just 3 paise over its previous close. On Wednesday, rupee h settled at 73.11 against American currency.

"Most Asian currencies were weak against greenback this morning and could weigh on sentiments," Reliance Securities said in a research te.

Meanwhile, dollar index, which gauges greenback's strength against a basket of six currencies, fell 0.14 per cent to 89.40. "Both Democrat candidates have won in Georgia Senate ruffs. Democrats w effectively have control of Senate as well. President, Senate, House are all Democrat which makes legislation easy to pass," said Abhishek Goenka, Founder and CEO, IFA Global.

On domestic equity market front, 30-share BSE benchmark Sensex was tring 160.16 points higher at 48,334.22, and broer NSE Nifty was up 52.60 points at 14,198.85. Foreign institutional investors were net sellers in capital market as y offloed shares worth Rs 483.64 crore on a net basis on Wednesday, according to provisional exchange data. Brent crude futures, global oil benchmark, rose 0.77 per cent to USD 54.72 per barrel. 

(Im Credits: PTI)