The rupee appreciated 4 paise to 82.66 against the US dollar in early trade on Wednesday, supported by a firm trend in domestic equities ahead of the Reserve Bank of India's monetary policy decision.
However, investors remained concerned over rising crude prices in the overseas markets and persistent foreign capital outflows, forex traders said.
At the interbank foreign exchange, the domestic unit opened strong at 82.67 against the dollar, then inched higher to 82.66, a rise of 4 paise over its last close.
In early deals, it was moving in a close range of 82.66-82.67.
On Tuesday, the rupee rose 6 paise to close at 82.70 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.10 per cent to 103.33.
Brent crude futures, the global oil benchmark, advanced 0.18 per cent to USD 83.84 per barrel.
The Reserve Bank of India's monetary policy decision on Wednesday will be closely watched by investors for further cues and there are expectations that the repo rate will be hiked by 25 basis points.
However, economists at SBI have said they expect the RBI to hit the pause button on interest rate hike.
Meanwhile, the 30-share BSE Sensex was trading 220.75 points or 0.37 per cent higher at 60,506.79 points. The broader NSE Nifty advanced 71.35 points or 0.40 per cent to 17,792.85 points.
Foreign Institutional Investors (FIIs) were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 2,559.96 crore, according to exchange data.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app