Rupee rises 25 paise to 82.51 against US dollar in early trade

Mumbai: The rupee reversed its four-day losing streak and rose 25 paise to 82.51 against the US dollar in early trade on Friday amid positive trends in the domestic as well as global equity markets.

At the interbank foreign exchange, the domestic unit opened stronger at 82.50 against the US dollar and fell to 82.54. Later, it rose marginally to 82.51, registering a gain of 25 paise.

On Thursday, the rupee settled at 82.76 against the US dollar, falling for the fourth day in a row.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.28 per cent lower at 104.12.

Global oil benchmark Brent crude futures rose 1.10 per cent to USD 75.12 per barrel.

The 30-share BSE Sensex was trading 410.04 points or 0.71 per cent higher at 58,044.88 points while the broader NSE Nifty was up 117.20 points or 0.69 per cent at 17,102.80 points.

Lifelines for troubled US and European banks bolstered investor sentiments amid concerns over the health of the global banking system.

Foreign Institutional Investors (FIIs) were net sellers in the capital market on Thursday as they offloaded shares worth Rs 282.06 crore, according to exchange data.