Rupee flat against US dollar in early trend, trades at ₹82.76 for 1 USD

The rupee traded flat against the US dollar in early trade on Thursday.

The domestic currency opened the day’s session at 82.77 against its US counterpart, and then gained ground to quote at 82.76, a rise of 4 paise over its previous close.

Gaining 7 paise, the rupee closed at 82.80 against the US dollar on Wednesday.

Meanwhile, speaking on the current position, traders said the domestic unit is in a narrow range because muted domestic equities, as well as sustained foreign fund outflows, capped the appreciation bias. Additionally, softening of the crude oil prices in the global markets supported the Indian currency.

On the other hand, the dollar index was at 104.35, a fall of 0.10%. The index gauges the greenback’s strength against a basket of as many as six currencies.

Brent crude features, the trademark for global oil, were at USD 83 per barrel, a decline of 0.31%. In the domestic equity market, the 30-share BSE Sensex was trading 346.35 points or 0.57 per cent lower at 60,563.93. The broader NSE Nifty fell 103.10 points or 0.57 per cent to 18,019.40.