Rupee gains 12 paise to 82.08 against US dollar on easing crude oil prices

The rupee gained 12 paise to 82.08 against the US dollar in early trade on Friday supported by easing crude oil prices and a positive trend in domestic equities.

Forex traders said significant foreign fund outflows and dollar demand from importers may weigh on the local unit and restrict the appreciating bias.

At the interbank foreign exchange, the domestic unit opened at 82.15 against the dollar, then gained ground and touched 82.08, registering a rise of 12 paise over its previous close.

In initial trade, the rupee also touched a low of 82.22 against American currency.

On Thursday, the rupee fell 40 paise to close below the 82 per US dollar mark.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.09 per cent to 101.84.

Brent crude futures, the global oil benchmark, declined 0.10 per cent to USD 82.09 per barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 348.05 points or 0.58 per cent higher at 60,280.29. The broader NSE Nifty advanced 51.05 points or 0.29 per cent to 17,661.45.

Foreign Institutional Investors (FIIs) were net sellers in the capital market on Thursday as they offloaded shares worth Rs 3,065.35 crore, according to exchange data.