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Rupee increases by 1 paisa to 82 US cents as local stocks rise.

In early trade on Tuesday, the rupee strengthened by 1 paisa to 82 against the US dollar, following a drop in the value of the US currency and an uptick in domestic stock prices. Forex traders claimed that the rise in crude prices and the exodus of foreign capital from the stock market limited the local currency's gains.

The native currency's opening rate on the interbank foreign exchange was 81.99 to the dollar. It reached the highest point of 81.96 and the lowest point of 82.02.  Later, the rupee was up one paisa from its previous closing, trading at 82. The rupee's exchange rate versus the dollar on Monday was 82.01.

The dollar index, which measures the strength of the dollar against a basket of six different currencies, decreased 0.08 percent to 102.03. The benchmark for world oil, Brent crude futures, up 0.28 percent to USD 85 per barrel. The 30-share BSE Sensex was up 33.64 points, or 0.06 percent, to 59,944.39 on the domestic equity market. At 17,726.35, the larger NSE Nifty was up 19.50 points, or 0.11 percent.

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