Indian rupee rises 7 paise in early trade, weighed down by strong US dollar

The rupee witnessed range-bound trading against the US dollar in early trade on Monday, weighed down by a negative trend in domestic equities, elevated crude oil prices and strong American currency.

At the interbank foreign exchange, the rupee opened at 83.09 against the US dollar (around 22.64 against UAE dirham) , registering a rise of 7 paise over its previous close. The currency also touched 83.13 against the American currency in initial trade.

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On Friday, the rupee fell 13 paise to settle at 83.16 against the US dollar.

Sensex fell 286.6 points to 67,552.03 in early trade while Nifty declined 70.7 points to 20,121.65.

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