Rupee rises 7 paise to 82.40 against US dollar in early trade

The Indian rupee opened higher at 82.45 against the US dollar, gaining 7 paise in early trade as global crude oil prices fell and domestic stocks trended positively. The dollar index gained 0.07% to 103.62. Brent crude futures fell 1.12% to USD 73.95 a barrel, while domestic stocks rose by 0.12%. However, FIIs were net sellers in the capital market on Friday. Experts predict that the rupee will range trade as the Reserve Bank protects one end while oil companies continue to buy US dollars at the other end.