In Early Trade, the Rupee Rises 8 Paise Against the US Dollar to 83.29

In early trade on Friday, the rupee gained 8 paise to 83.29 against the US dollar as a result of significant equities purchases by foreign institutional investors and declining crude oil prices.

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The general mood was elevated by encouraging signals from the equities markets in the midst of robust domestic macroeconomic data.

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As the collection of oil-producing nations known as OPEC+ set no new goal to limit output for 2024

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The rupee began trading stronger against the dollar at 83.29 on the interbank foreign exchange

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On Thursday, the rupee ended the day 5 paise weaker than the dollar, at 83.37.

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The benchmark for global oil, Brent crude futures, saw a 0.47 percent decrease to USD 80.48 per barrel.

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