In early trading on Monday, the rupee strengthened against the dollar. This is a good sign after the rupee fell 7 paise to an all-time low of 77.63 against the US dollar on Friday, weighed down by unabated foreign fund outflows and rising crude oil prices.
On Monday, the rupee opened at 77.66 against the US dollar on the interbank forex market, up 4 paise in early trade.
The rupee closed at 77.63 on Friday, down 7 paise from its Thursday close of 77.56.
After six weeks of upward movement, the dollar index fell for the first time last week, owing to position liquidation and a preference for other currencies to emerge at a lower level.
The BSE Sensex rose 133.14 points, or 0.25 percent, to 54,459.53, while the broader NSE Nifty rose 24.35 points, or 0.15 percent, to 16,290.50.
According to stock exchange data, foreign institutional investors were net sellers in the capital market on Friday, offloading shares worth Rs 1,265.41 crore.
