The rupee edged higher to 79.18 against the US dollar on Monday as an easing dollar and fall in crude oil prices yielded support to the domestic currency. Investments by foreign funds in private lender Yes Bank has revived FDI hopes.

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The rupee settled at 79.25 against the US dollar in the previous session.

Global oil prices fell on Monday ahead of OPEC meeting scheduled on Wednesday. Brent futures fell 1.3 percent to $102.6 a barrel. West Texas Intermediate (WTI) futures followed suit and slumped 1.5 percent to $97.1 a barrel.

The dollar index — which gauges strength in the greenback against six peers — fell 0.25 percent to 105.5.

Domestic equity benchmarks BSE Sensex and NSE Nifty50 opened higher on Monday amid gains in global markets.

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First Published:Aug 1, 2022 10:18 AM IST