Rupee Rises 8 Paise to 81.93 Against Dollar

Mumbai: The rupee appreciated by 8 paise to 81.93 against the US dollar in early trade on Thursday amid weak American currency and robust inflow of foreign funds into domestic equity markets.

Easing of crude prices boosted the local unit, forex traders said, while the dollar was under pressure amid concerns of further rate hike by US Federal Reserve as indicated by Fed Chair Jerome Powell in his Tuesday’s speech.

At the interbank foreign exchange, the domestic unit opened stronger at 81.94 and touched the peak of 81.90. The currency later traded at 81.93 against the greenback, registering a gain of 8 paise from its previous close.