MUMBAI: The rupee appreciated by 6 paise to 68.57 against the US dollar in opening trade on Friday, driven by sustained foreign fund inflows and a higher opening of domestic equities.
The rupee opened at 68.60 at the interbank forex market, then gained further ground and touched 68.57, displaying gains of 6 paise over its last close.
On Thursday, the forex market was closed on account of Holi.
On Wednesday, the rupee had recovered by 13 paise to close at 68.83 against the US dollar.
“Selling of the American currency by exporters and positive opening in domestic equities supported the rupee”, Forex dealers said.
“Fresh foreign fund inflows and easing crude prices also supported the rupee”, they added.
Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,771.61 crore on a net basis on Wednesday, as per provisional data.
Brent crude futures, the global oil benchmark, slipped 0.18 per cent to USD 67.74 per barrel.
Meanwhile, the benchmark BSE Sensex was trading higher by 91.03 points, or 0.24 per cent, at 38,477.78, while, the NSE Nifty was trading at 11,548, higher by 26.95 points, or 0.23 per cent.
With inputs from PTI