Mumbai: The rupee appreciated 7 paise to 82.96 against the US dollar in early trade on Monday, as a weak American currency in the overseas markets and unabated foreign fund inflows boosted investor sentiment.

However, a muted trend in the domestic equity markets

restricted gain in the local unit, forex traders said.

At the interbank foreign exchange, the rupee opened 6 paise higher at 82.97 against the dollar. In early trade, the rupee was oscillating between 82.95 and 83.02.

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