Rupee rises 13 paise to 69.22 against dollar in early trade on easing crude prices, weakening US currency in overseas markets

Mumbai: The rupee appreciated by 13 paise to 69.22 against the US dollar in opening trade Tuesday, driven by easing crude oil prices and weakening of the US dollar in the overseas market.

The rupee opened strong at 69.32 at the interbank forex market then gained further ground to touch 69.22 per dollar, displaying gains of 13 paise against the greenback.

On Monday, the rupee had settled at 69.35 against the US dollar.

Forex dealers said foreign fund inflows and selling of the American currency by exporters supported the rupee.

Foreign investors bought shares worth Rs 207.33 crore on a net basis on Monday, provisional data showed.

 Rupee rises 13 paise to 69.22 against dollar in early trade on easing crude prices, weakening US currency in overseas markets

Representational image. Reuters.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.04 percent to 95.93.

The benchmark BSE Sensex was trading 128.28 points, or 0.33 percent down to quote at 38,994.68 while the NSE Nifty was trading at 11,666.30, down 33.35 points, or 0.29 percent.

Brent crude, the global benchmark, was trading at 64.25 per barrel lower by 0.94 percent.

Meanwhile, on the global front, US President Donald Trump on Monday said the Federal Reserve's reluctance to cut interest rates was standing in the way of economic expansion.

The US Fed last week left benchmark US lending rates untouched.

"Despite a Federal Reserve that doesn't know what it is doing... we are on course to have one of the best Months of June in US history," Trump tweeted.

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Updated Date: Jun 25, 2019 10:28:20 IST