The rupee settles 2 paise higher at 82.89 against the US dollar.

In a range-bound session on Monday, the rupee gained 2 paise to close at 82.89 (provisional) against the US dollar, reflecting equity market volatility. Forex brokers claimed the flood of the foreign capital, together with lower crude oil prices, boosted the Indian rupee. Brent crude futures, the global oil benchmark, fell 0.45% to $82.25 a barrel.

In a range-bound session on Monday, the rupee gained 2 paise to close at 82.89 (provisional) against the US dollar, reflecting the equity market volatility. Forex brokers claimed the flood of foreign capital, together with lower crude oil prices, boosted the Indian rupee.

The dollar also fell from its highs as investors remained cautious ahead of inflation and other macroeconomic data due out this week in India and elsewhere, they said.

According to the PTI, At the interbank foreign exchange market, the local currency opened at 82.88 and closed at 82.89 (provisional) versus the dollar, up 2 paise over the previous day.

The rupee remained range-bound throughout the day, reaching an intra-day high of 82.86 and a low of 82.91 against the US dollar.

On the Friday, the rupee fell 6 paise to 82.91 versus the US dollar.

The Brent crude futures, the global oil benchmark, were trading 0.58% lower at USD 81.15 per barrel.

On the domestic equities market front, the Sensex fell 352.67 points, or 0.48 percent, to 72,790.13 points. The Nifty declined by 90.65 points, or 0.41 percent, to 22,122.05 points.

Foreign Institutional Investors (FIIs) were net purchasers in the capital markets on Friday, spending Rs 1,276.09 crore, according to exchange data.

According to the PTI, India’s foreign reserves fell by USD 5.24 billion to USD 617.23 billion in the week ended February 9, according to weekly data provided by the Reserve Bank of India (RBI) on Friday.

The dollar index, which measures the greenback’s strength against a basket of six currencies, was up 0.06% at 103.92.

In the domestic equities market, the 30-share BSE Sensex was down 219.37 points, or 0.30%, at 72,923.43. The broader NSE Nifty fell 51.10 points, or 0.23%, to 22,161.60.