Rupee edges 3 paise higher at 73.13 in opening trade

The Indian rupee traded with moderate gains of 3 paise at 73.13 against the US dollar in the opening session on Monday, tracking softer crude oil prices and sustained buying in domestic equities.

The Indian rupee traded with moderate gains of 3 paise at 73.13 against the US dollar in the opening session on Monday, tracking softer crude oil prices and sustained buying in domestic equities. The domestic unit started off the session on a strong note at 73.10, up 6 paise, but ceded some ground as trade progressed and quoted 73.13 a dollar at 1020 hours.

The domestic currency had settled 8 paise higher at 73.16 a dollar on Friday after the Reserve Bank kept key interest rates unchanged while retaining an accommodative stance. On a weekly basis, however, the domestic currency had lost 3 paise to the US dollar.

Global crude oil benchmark Brent was trading 0.84 per cent lower at 42.46 a barrel. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, gained 0.02 per cent to 93.07.

On the domestic equity market front, the BSE Sensex was trading 246.06 points up at 40,755.55; and the NSE Nifty was 58 points higher at 11,972. Foreign investors had offloaded Indian equities worth a net Rs 39.39 crore on Friday, exchange data showed.