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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
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Indian rupee rises to 20.6 against UAE dirham
The dollar index rose 0.10% to 96.18.
PTI file
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)
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