In early trading, the rupee climbs 6 paise to 82.91 versus the US dollar

MUMBAI: Following a weak US dollar and upbeat attitude in the equities market, the rupee maintained its upward trajectory for the third consecutive day, rising 6 paise to 82.91 versus the US dollar in early trading on Wednesday. However, economists noted that a strong increase in the value of the home currency was thwarted by selling pressure from foreign equities investors in light of the high level of crude oil prices.

The local currency increased by 6 paise from its previous close to 82.91 versus the US dollar in the first dealings at the interbank foreign exchange. It had started at 82.90.
One day after rising 4 paise against the US dollar in the previous trading session on Friday, the rupee ended Tuesday’s trading session 4 paise higher at 82.97. Monday saw the closure of the currency market due to the holiday Chatrapati Shivaji Maharaj Jayanti.
In the meanwhile, the dollar index, which measures the strength of the US dollar relative to a basket of six other currencies, fell 0.07 percent to 103.90.
The world oil benchmark, Brent crude futures, increased 0.41 percent to USD 82.68 a barrel.

Within the domestic equities market, the 30-share BSE Sensex was at 73,101.04 points, up 43.64 points, or 0.06 percent. To reach 22,212.25 points, the larger NSE Nifty increased by 15.30 points, or 0.07 percent.
According to exchange statistics, Foreign Institutional Investors (FIIs) sold shares worth Rs 1,335 crore on Tuesday, making them net sellers in the capital markets.