Indian rupee gains 7 paise against UAE dirham in early trade

The rupee appreciated 7 paise to 82.96 against the US dollar (23.04 UAE dirhams) in early trade on Monday, as a weak American currency in the overseas markets and unabated foreign fund inflows boosted investor sentiment.

However, a muted trend in the domestic equity markets restricted gain in the local unit, forex traders said. At the interbank foreign exchange, the rupee opened 6 paise higher at 82.97 against the dollar (23.047 UAE dirham). In early trade, the rupee was oscillating between 82.95 and 83.02 (23.04-23.06 UAE dirham).

[For real-time forex rates, click the widget below or visit KT's dedicated Trading News page here.]

• India's opposition parties protest against Mumbai slum overhaul plan