In early trade on Friday, the rupee fell 5 paise to 83.33 against the US dollar, tracking a strong dollar abroad and a rising trend in domestic stocks.
However, according to forex traders, the gains in local units were limited by high crude prices on international markets and continuous outflows of foreign cash.
The dollar index, which compares the value of the US dollar to a basket of six other currencies, increased by 0.09 percent to 105.54.
The benchmark for oil prices worldwide, Brent crude futures, increased by 0.35 percent to $89.32 a barrel. The 30-share BSE Sensex was up 103.64 points, or 0.14 percent, at 74,443.08 in the domestic equity market.
The NSE Nifty, as a whole, increased by 32.45 points, or 0.14 percent, to 22,602.80. Net sellers in the market were foreign institutional investors (FIIs) inthe capital markets on Thursday as they offloaded shares worth Rs 2,823.33 crore, according to exchange data.
The native currency fell 5 paise from its previous close of 83.30 to 83.33 at the interbank foreign exchange. It had opened weakly against the dollar at 83.30.
During the first trade, the domestic currency traded against the US dollar within a narrow range of 83.35-83.30. The rupee and the dollar had settled at 83.28 during the previous session on Thursday.However, according to forex traders, the gains in local units were limited by high crude prices on international markets and continuous outflows of foreign cash.
