Rupee rises 21 paise to 69.44 in early trade on weak greenback, positive opening in domestic equities

Mumbai: The rupee appreciated by 21 paise to 69.44 against the US dollar in opening trade Tuesday, driven by weakening of the greenback and positive opening in domestic equities.

At the interbank foreign exchange market, the domestic unit opened at 69.49 against the dollar, then gained momentum and touched 69.44, up 21 paise over its previous close.

 Rupee rises 21 paise to 69.44 in early trade on weak greenback, positive opening in domestic equities

Representational image. Reuters.

The rupee had settled at 69.65 against the US dollar on Monday.

Forex dealers said, selling of the American currency by exporters, positive opening in domestic equities and foreign fund inflows supported the rupee.

On the other hand, rising crude oil prices restricted the rupee's upward move.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 216.20 crore Monday, as per the provisional data.

Brent crude futures, the global oil benchmark, rose 0.18 percent to $62.42 per barrel.

Meanwhile, domestic bourses opened on a bullish note Tuesday with benchmark indices Sensex trading 123.15 points up at 39,907.67 and Nifty up 29.40 points at 11,952.10.

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Updated Date: Jun 11, 2019 10:59:00 IST