The rupee gained nine paise to reach 88.51 per US dollar in early trading on Wednesday. The rupee found support from lower crude oil prices, although investor sentiment was affected by volatility in global stock markets. In the interbank foreign exchange market, the rupee opened at 88.57 per dollar.
After initial deals, it reached 88.51 against the dollar, showing a gain of nine paise from the previous closing rate. The rupee had closed at 88.60 against the US dollar on Tuesday. Meanwhile, the dollar index, which measures the US dollar’s position against six major currencies, rose 0.04 percent to 99.49.
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In domestic stock markets, the Sensex fell 46.27 points or 0.05 percent to 84,626.75 points in early trading, while the Nifty slipped 8.35 points or 0.03 percent to 25,901.70 points. International benchmark Brent crude declined 0.34 percent to $64.67 per barrel. According to stock market data, foreign institutional investors were net sellers on Tuesday, selling shares worth ₹728.82 crore.
