Indian rupee steady against UAE dirham

The Indian rupee on Friday traded flat against the US currency in early trade amid steep losses in the Indian equity markets and firm crude oil prices.

A weak US dollar against leading world currencies and forex inflows aided the sentiment, forex dealers said.

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At the Indian interbank foreign exchange market, the rupee opened marginally down by two paise at 82.81 against the previous close of 82.79.

The rupee moved in a narrow range of 82.82 and 82.77 in morning trade.

It was trading flat at 82.79 against the dollar.

The dollar index, which gauges the greenback's strength against a basket of six currencies, dropped 0.10 per cent to 104.33.

Brent crude, the pricing basis for international trading, strengthened 0.89 per cent to $81.70 a barrel on expectations of lower Russian crude exports from the Baltic region in December.

Key stock indices Sensex and Nifty declined nearly 1 per cent in early trade in line with weak Asian markets.

Benchmark BSE Sensex tumbled 620.66 points to 60,205.56 while Nifty declined 158.55 points to 17,968.80.

Foreign institutional investors (FIIs) turned net buyers in the capital markets on Thursday as they bought shares worth ₹9.28 billion, according to exchange data.

(With inputs from PTI)

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