Currency News: Rupee rises 6 paise to 83.46 against US dollar in early trade

The rupee entered its 3rd week of rally and appreciated 6 paise to 83.46 against the US dollar successful aboriginal commercialized connected Monday, tracking affirmative momentum successful home equity markets amid a monolithic inflow of overseas funds.

However, an upward question successful the crude lipid prices and a strengthening greenback against large overseas rivals capped a crisp emergence successful the Indian currency, forex traders said.

At the interbank overseas speech market, the Indian currency opened astatine 83.44 and fell to 83.49 earlier trading again astatine 84.46 against the greenback, registering a summation of 6 paise higher than its erstwhile closing level.

The section portion gained 13 paise to settee astatine 83.52 against the US dollar connected Friday.

The Indian currency has been connected a betterment way since September 11 erstwhile it had settled astatine 83.99 against the American currency, a tad higher than the lowest level of 84.09 recorded connected August 5.

The upward determination of the Indian currency was attributed to the US Federal Reserve's determination to trim benchmark involvement complaint by 0.50 per cent past week and affirmative commentary by the Fed seat astir the American economy.

Meanwhile, the dollar index, which gauges the greenback's spot against a handbasket of six currencies, was up by 0.07 per cent to 100.49.

Brent crude, the planetary benchmark, precocious 0.74 per cent to USD 75.04 per tube successful futures trade.

In the home equity market, the 30-share BSE Sensex climbed 224.99 points, oregon 0.27 per cent, to an all-time precocious of 84,769.30, portion the Nifty precocious 86.20 points, oregon 0.33 per cent, to deed its caller highest of 25,877.15. On Friday, some the indices surged much than 1 per cent and ended astatine their highest levels.

Foreign Institutional Investors (FIIs) were nett buyers successful the superior markets connected Friday, arsenic they purchased shares worthy Rs 14,064.05 crore, according to speech data.

India's forex reserves roseate by USD 223 cardinal to a caller all-time precocious of USD 689.458 cardinal for the week ended connected September 13, according to the Reserve Bank information released connected Friday.