The rupee gained 9 paise to 81.29 against the US dollar in early trade on Monday supported by broad dollar weakness and a firm trend in domestic equities.
Forex traders said sustained foreign fund outflows weighed on investor sentiments and restricted the appreciation bias.
At the interbank foreign exchange, the domestic unit opened at 81.29 against the dollar, registering a rise of 9 paise over its previous close.
On Friday, it depreciated by 8 paise to close at 81.38 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.32 per cent to 101.87.
Brent crude futures, the global oil benchmark, fell 0.53 per cent to USD 84.83 per barrel.
According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the Indian rupee opened stronger on Monday, tracking a weak dollar and a possibility of smaller…
