In early trade on Friday, the rupee gained 2 paise to 83.95 against the US dollar as the US dollar declined versus major international currencies.
According to forex traders, gains in the local currency were limited by an increase in the price of crude oil internationally, negative movements in domestic equity markets, and the flight of foreign capital.
The dollar index, which measures the strength of the US dollar relative to a basket of six other currencies, decreased by 0.10 percent to 100.97 points in the meantime.
According to analysts, investors were waiting for clues from the US jobs data that would be released later in the day, which is why the US currency was trading lower.
In futures trading, Brent crude, the global standard, was slightly higher by 0.01 percent at USD 72.70 per barrel. Within the domestic equity market, the Nifty dropped 52.55 points, or 0.21 percent, to 25,092.55, and the 30-share BSE Sensex fell 189.44 points, or 0.23 percent, to 82,011.72. According to exchange data, Foreign Institutional Investors (FIIs) sold shares worth Rs 688.69 crore on Thursday, making them net sellers in the capital markets.
Also Read:
Namma Yatri of India Intends to Join the US Market
Factors to Watch Next Week: FIIs, Rate Cut, and Economic Data
