Rupee rises 7 paise to 73.73 against US dollar in early trade

At the interbank forex market, the domestic unit opened at 73.79 against the US dollar, then gained ground and touched 73.73 against the American currency, registering a rise of 7 paise over its previous close.On Friday, the rupee had settled at 73.80 against US dollar.

The rupee appreciated by 7 paise to 73.73 against the US dollar in the opening session on Monday on sustained foreign fund inflows and positive domestic equities. At the interbank forex market, the domestic unit opened at 73.79 against the US dollar, then gained ground and touched 73.73 against the American currency, registering a rise of 7 paise over its previous close.

On Friday, the rupee had settled at 73.80 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.04 percent to 90.73.

On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 58.77 points higher at 45,138.32, and the broader NSE Nifty rose 20.65 points to 13,279.20. Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 2,969.59 crore on a net basis on Friday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, fell 0.45 percent to USD 49.03 per barrel.