Indian rupee drops as oil prices firm up
The Indian rupee declined by 10 paise to 82.26 against the US dollar in opening trade on Wednesday due to firm crude oil prices and a stronger greenback.
Early gains in Indian stock markets also restricted the rupee's losses against the dollar.
At the Indian interbank foreign exchange market, the rupee opened lower at 82.26 against the previous close of 82.16.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, rebounded by 0.15% to 102.58 in early Asian trade.
Global oil benchmark Brent crude futures firmed up by 0.19% to $78.80 per barrel.
On the Indian equity market front, the 30-share BSE Sensex rose by 123.64 points or 0.21% to 57,737.36 while NSE Nifty gained 53.70 points or 0.32% to 17,005.40 in early trade.
.png)
