Rupee opens nearly 2 paise up at 66.83 against dollar

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NEW DELHI: NEW DELHI: The rupee opened nearly 2 paise higher at 66.83 against dollar on Friday on account of fresh bout of selling in American currency by banks and exporters.

Meanwhile, the domestic equity market opened in green following firm global cues. The 30-share BSE Sensex was trading 83.43 points, or 0.29 per cent, up at 28,413.13 in early trade, while the 50-share NSE Nifty index was up 33.95 points, or 0.39 per cent, up at 8812.35.

The currency on Thursday soared by 34 paise to end at a fresh 3-month high of 66.85 against dollar.

For Friday’s trading session, Angel Broking in a research note said, “USDINR spot is expected to trade positive tracking gains in the Asian markets equities after the US President commented on releasing a “phenomenal” tax plan in coming weeks. However, strength in the American currency could cap sharp gains.”

Foreign portfolio investors stood net sellers in domestic equity market on Thursday as they offloaded shares worth Rs 188.26 crore with gross purchases and gross sales of Rs 4468.40 crore and Rs 4656.66 crore, respectively.

Government bonds fell for a fifth session on Thursday, after uncertainty on the inflation trajectory prompted the Monetary Policy Committee to shift its stance to neutral from accommodative, weighing on investor appetite. The benchmark 6.97% 2026 bond yield rose to 6.86 per cent from 6.74 per cent in the previous day.

In the currency futures market, the most traded dollar-rupee February contract on the NSE ended at 66.97 on Thursday.