The Indian rupee on Monday gained 7 paise against the US dollar, to end at 77.98, as crude oil prices fell from their highs. However, forex dealers said that unabated foreign fund outflows limited the rupee's appreciation bias.
The local currency opened strong at 77.98 against the greenback on the interbank forex market, swinging with an intra-day high of 77.87 and a low of 78.03. It eventually closed at 77.98, up 7 paise from the previous closing of 78.05.
On the Indian stock market front, the BSE Sensex finished 237.42 points higher, or 0.46 percent higher, at 51,597.84, while the broader NSE Nifty climbed 56.65 points, or 0.37 percent, to 15,350.15.
The dollar index, which measures the strength of the greenback against a basket of six currencies, was trading at 104.31, down 0.37 percent.
The global oil benchmark, Brent crude futures, slipped 0.11 percent to USD 112.99 a barrel.
According to exchange data, foreign institutional investors were net sellers in the capital market on Friday, offloading shares worth Rs 7,818.61 crore.
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