India's rupee recovered in early trading Friday after opening weaker against the U.S. dollar, as Press Trust of India quoted traders who said rising oil and a firmer dollar weighed on it.
PTI reported an opening rate of 94.50 per dollar, compared with a reported Thursday close of 94.41. The currency later reached 94.36 in early trade. PTI's market snapshot put the dollar index at 101.71, up 0.17%, and Brent crude futures at $100.30 a barrel, up 2.04%.
Provisional data from the National Stock Exchange showed foreign institutional investors were net buyers of ₹14,974.68 crore in Indian equities Thursday. Friday's early share trading was mixed: the Sensex rose 33 points to 79,343.06, while the Nifty fell 52.95 points to 24,477.40, PTI reported.
Anuj Choudhary, a research analyst at Mirae Asset Sharekhan, told PTI that stronger domestic markets and fresh foreign buying may give the rupee support. He said tensions involving Ukraine and Russia, along with attacks in the Middle East, could restrain the currency's advance.
