Rupee appreciates 16 paise to 70.09 against US dollar in early trade

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MUMBAI: The rupee rose 16 paise to 70.09 against the US dollar in opening trade Friday, driven by positive opening in domestic equities and weakening greenback in overseas markets.

 

The rupee opened strong at 70.12 at the interbank forex market, then gained further ground to touch 70.09 per dollar, displaying gains of 16 paise against the greenback.

“Easing crude prices, sustained foreign fund inflows and selling of the American currency by exporters supported the rupee”, Forex dealers said.

On Thursday, the rupee had settled at 70.25 against the US dollar.

As per provisional data, Foreign funds infused Rs 3,785.73 crore in the capital market on a net basis, while domestic institutional investors sold shares worth Rs 4,069.98 crore Thursday.

The benchmark BSE Sensex was trading with gains of 150.56 points, or 0.39 per cent, at 38,864.41.

Meanwhile, the NSE Nifty was trading at 11,692.05, up 50.25 points, or 0.43 per cent.

Brent crude, the global benchmark, was trading at 74.14 per barrel lower by 0.28 per cent.

 

With inputs from PTI

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