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Rupee gains 14 paise to 73.33 against US dollar in early trade

File photo. Photograph:( Reuters )

PTI Mumbai, Maharashtra, India Oct 29, 2018, 09.48 AM (IST)

The rupee recovered by 14 paise to 73.33 against the US currency in early trade Monday, on fresh dollar selling by exporters and higher opening in the domestic equity markets.

At the Interbank Foreign Exchange, the rupee opened up at 73.33 to quote 14 paise higher over its previous closing, on increased selling of the American currency by exporters and banks.

On Friday, the rupee had depreciated by 20 paise to close at 73.47 against the US dollar.

Forex dealers said, weakness in the dollar against a few currencies overseas and easing crude prices gave some support to the local unit.

Globally, Brent crude, the international benchmark, was trading 0.05 per cent down at US $77.58 per barrel.

The benchmark BSE Sensex started the session on a positive note up by 200.57 points at 33,549.88 in opening trade Monday.

On a net basis, foreign funds pulled out Rs 1,356.66 crore from the capital markets on a net basis, while domestic institutional investors bought shares worth Rs 1,875.89 crore Friday, provisional data showed.