Rupee rises 7 paise against US dollar in early trade

NEW DELHI: The rupee on Wednesday was trading nearly 7 paise higher at 65.35 against dollar in early trade on account of selling of American currency by banks and exporters.

The local currency on Wednesday opened on a flat note at 65.43 a dollar against previous close of 65.42.

The RBI, meanwhile, fixed the reference rate for the dollar at 65.5171 and for the euro at 76.4781 on Tuesday.

Foreign portfolio investors stood net sellers in domestic equity markets Tuesday and sold shares worth Rs 135.73 crore with gross purchases and gross sales of Rs 4,632.82 crore and Rs 4,768.55 crore, respectively.

Meanwhile, domestic equity markets opened on a cautious note on Wednesday following global cues. The BSE Sensex opened 3.07 points, or 0.01 per cent, up at 32944.95, while the NSE Nifty index opened 14.65 points, or 0.14 per cent, down at 10,171.95.

Government bonds fell for a third straight session on Tuesday, with the benchmark yield spiking to its highest in 14 months, as market participants cut positions after inflation accelerated to a seven-month high in October.

The GoI benchmark 6.79% 2027 bond yield rose to 7.05 per cent from 6.97 per cent in the previous session.