Rupee rises 2 paise to 83.97 in early trade
MUMBAI [Maha Media]: The rupee rose 2 paise to 83.97 against the US dollar in early trade on Monday, aided by a weaker greenback in the international market and a drop in crude oil prices.
The increase in the country's forex reserves to a new all-time high of USD 704.88 billion on Friday further pushed the domestic currency, according to forex traders.
However, growing escalation in conflict in the Middle East and FIIs outflow on Friday capped sharp gains in the domestic unit, they said.