Rupee opens marginally higher against US dollar in early trade

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MUMBAI: The rupee recovered marginally and opened 9 paise higher at 70.43 against the US dollar on Tuesday.


The rupee opened at 70.43 at the interbank forex market, displaying gains of 9 paise over its last close.

On Monday, the rupee fell sharply by 59 paise to close at nearly two-and-a-half-month-low of 70.51 against the US currency.

“Foreign fund outflows, rising crude prices and US-China trade-related concerns weighed on the domestic currency”, Forex dealers said.

As per provisional data, Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 1,056.01 crore on a net basis on Monday.

Brent crude futures, the global oil benchmark, rose 0.34 per cent to USD 70.47 per barrel.

Meanwhile, the benchmark BSE Sensex opened on a cautious note at 37,035.44, down by 55.38 points; while the NSE Nifty was trading at 11,132.20, lower by 16 points.

 

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