<a href="https://www.mid-day.com/business/business-news/article/rupee-declines-9-paise-to-9450-against-us-dollar-amid-rising-crude-oil-prices-23658760" target="_blank" rel="none noopener">The rupee fell</a> 6 paise to 93.77 against the US dollar in early trade on Thursday, weighed down by the strengthening of the American currency.
Forex traders said the latest inflation and employment figures in the US have boosted Treasury yields and the greenback.
However, falling crude oil prices, alongside strong domestic equity markets and foreign inflows, could help support the rupee.
In the interbank foreign exchange market, the rupee opened at around 93.73, then touched 93.77, down 6 paise from its previous closing level.
On Wednesday, the rupee gained 6 paise to close at 93.71 against the US dollar.
"The rupee's underlying momentum remains positive, backed by a steady return of foreign capital and <a href="https://www.mid-day.com/business/business-news/article/crude-oil-prices-decline-over-2-per-cent-to-usd-11404-per-barrel-amid-hopes-of-us-iran-deescalation-23657061" target="_blank" rel="none noopener">softer crude prices</a>. If these supportive factors continue, USD/INR could extend its decline towards 93.50, with 93.00 emerging as the next important level to watch. However, any further strengthening in the dollar index could put renewed pressure on the rupee, pushing USD/INR towards the 94.10&ndash;94.30 resistance zone," CR Forex Advisors MD Amit Pabari said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 103.03, higher by 0.12 per cent.
The dollar strengthened on hotter-than-expected CPI inflation in the US, raising odds of a rate hike by the Fed in December.
Brent crude, the global oil benchmark, was trading 1.10 per cent lower at USD 91.74 per barrel in futures trade.
On the domestic equity market front, Sensex advanced 166.44 points to 82,013.58 in early trade; Nifty was trading 55.65 points higher at 25,316.55.
<a href="https://www.mid-day.com/business/business-news/article/market-weekly-round-up-fiis-continue-to-be-net-buyers-purchase-equities-worth-rs-45960-crore-23658950" target="_blank" rel="none noopener">Foreign institutional investors (FIIs) purchased equities</a> worth Rs 12,563.33 crore on Wednesday, according to exchange data.
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The Indian currency opened at around 93.73, then touched 93.77 against US dollar, down 6 paise from its previous closing level

Rupee falls 6 paise to 93.77 against US dollar amid higher US treasury yields

Net direct tax collection rises 12 per cent to Rs 14.42 lakh crore till November 10

In the interbank foreign exchange market, the rupee opened at around 93.73, then touched 93.77, down 6 paise from its previous closing level. On Wednesday, the rupee gained 6 paise to close at 93.71 against the US dollar

Rupee declines 6 paise to 93.77 against US dollar amid higher US treasury yields

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