Analysts and forex experts caution that the political instability will continue to weigh on the rupee's future and may slow the recovery pace in coming days
The Indian rupee appreciated 15 paise to 75.63 against the US dollar (20.60 against Emirati dirham) on Monday morning, tracking a positive trend in the Indian equities.
However, surging crude prices in the international market and unabated foreign capital outflows capped the rupee’s gains, traders said.
At the Indian interbank foreign exchange, the rupee opened strong at 75.64 and inched up to quote 75.63 against the American dollar in early deals, registering a rise of 15 paise from the last close.
On Friday, the rupee dropped by 18 paise to an over 16-month low of 75.78 against the US dollar.
The 30-share Sensex was trading 206.46 points or 0.35 per cent higher at 58,993.13, while the broader NSE Nifty advanced 86.50 points or 0.49 per cent to 17,597.80.
Global oil benchmark Brent crude futures rose 1.30 per cent to $76.13 per barrel.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.10 per cent to 96.18.
On the macro-economic front, India's industrial production growth remained subdued for the second straight month and expanded by 3.2 per cent in October, mainly due to the waning low base effect while mining, power and manufacturing sectors performed well.
(with inputs from PTI)
Analysts and forex experts caution that the political instability will continue to weigh on the rupee's future and may slow the recovery pace in coming days
Customers are spending more on customisable cold beverages, food like lime-frosted coconut bars
In the previous session, the rupee had closed at 79.06 against the US dollar
Spot gold was up 0.3 per cent at $1,777.20 per ounce
It opened at 79.16 against the US dollar and touched 79.11 in initial deals
Spot gold was trading at $1,760.13 per ounce as of 9.10 am UAE time, down 0.15 per cent
Higher oil prices, month-end importer demand and global recession fears could restrict the gains for the rupee
Spot gold was up 0.2 per cent at $1,736.89 per ounce in early trade