Mumbai: The Indian rupee opened on a flat note and rose by 7 paises to 73.84 against the US dollar in the opening trade on Thursday amid a flawed trend in the local stock market.
On the interbank foreign exchange market, the local unit opened at $ 73.87 against the US dollar, and then rose higher to $ 73.84, reflecting a 7 paise increase over its last close. The local unit also reached a low of 73.98 in initial transactions.
On Wednesday, the rupee settled against the US currency at 73.91.
The Indian Rupee started on a flat note against the dollar on Thursday amid a decline in most Asian stocks, Reliance Securities said in a research note.
The dollar index, which measures the strength of the greenback against a basket of six currencies, rose 0.01 percent to 91.31.
“The US dollar index was flat on Thursday morning in Asian trade consolidated ahead of a major US job report that could provide clues as to when the Federal Reserve will reverse monetary stimulus,” the note reads.
The global oil benchmark for Brent crude futures market rose 0.20 percent to USD 69.10 a barrel.
In terms of the local stock market, BSE Sensex traded 14.74 points or 0.03 percent lower at 48,662.81, while the broader NSE Nifty rose 6.75 points or 0.05 percent to 14,624.60.
Foreign institutional investors were net sellers in the capital market on Wednesday as they sold shares worth 1,110.50 crore.
Source: Telangana Today