Rupee gains 6 paise to 82.34 against U.S. dollar

RUPEE VERSUS US DOLLAR: The Indian rupee appreciated 6 paise to 82.34 against the  US Dollar dollar on Wednesday's early trade as a strong trend in Indian equities strengthened investor mood. However, continuous foreign capital outflows capped the gains of the local unit, forex traders said.

The local unit started out strongly against the dollar at the interbank foreign exchange, quoting at 82.32, before losing some ground and closing at 82.34, up 6 paise from its previous finish.

The rupee lost 10 paise to conclude the previous session on Tuesday at 82.40 against the dollar. The dollar index, which measures how strong the dollar is relative to a basket of six different currencies, decreased 0.06 percent to 112.06.

The benchmark for world oil, Brent crude futures, increased 0.59 percent to USD 90.56 a barrel.

The 30-share BSE Sensex was trading 259 points, or 0.44 percent, higher at 59,219.32 on the domestic equity market. The larger NSE Nifty gained 700 points, or 0.40 percent, to reach 17,556.25.

According to exchange data, Foreign Institutional Investors (FIIs) sold shares worth Rs 153.40 crore on Tuesday, making them net sellers in the capital markets.

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