Rupee rises 21 paise to 70.64 against dollar in early trade amid higher opening in domestic equities, foreign fund inflows

At the interbank foreign exchange the rupee opened at 70.67, then gained further ground and touched 70.64, registering a rise of 21 paise over its previous close.

Press Trust of India December 12, 2019 11:39:48 IST
Rupee rises 21 paise to 70.64 against dollar in early trade amid higher opening in domestic equities, foreign fund inflows
  • Forex traders said the domestic unit gained ground ahead of the release of key macro-economic numbers

  • At the interbank foreign exchange the rupee opened at 70.67, then gained further ground and touched 70.64, registering a rise of 21 paise over its previous close.

  • On Wednesday, the rupee had settled for the day at 70.85 against the US dollar

Mumbai: The Indian rupee appreciated by 21 paise to 70.64 against the US dollar in early trade on Thursday as higher opening in domestic equities and sustained foreign fund inflows strengthened investor sentiments.

Forex traders said the domestic unit gained ground ahead of the release of key macro-economic numbers.

At the interbank foreign exchange the rupee opened at 70.67, then gained further ground and touched 70.64, registering a rise of 21 paise over its previous close.

Rupee rises 21 paise to 7064 against dollar in early trade amid higher opening in domestic equities foreign fund inflows

Representational image. Reuters.

On Wednesday, the rupee had settled for the day at 70.85 against the US dollar.

The domestic unit, however, could not hold on to the gains and was trading at 70.68 against the dollar at 0935 hrs.

Forex traders said investors were optimistic about the US-China trade talks.

Moreover, a positive opening in domestic equities also supported the local unit.

Domestic bourses opened on a positive note on Thursday with benchmark indices Sensex trading 158.19 points higher at 40,570.76 and Nifty up by 47.30 points at 11,957.45.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.09 percent to 97.03.

Foreign institutional investors (FIIs) remained net buyers in the capital market, as they purchased shares worth Rs 605.41 crore on Wednesday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, rose 0.44 percent to trade at $64.00 per barrel.

The 10-year government bond yield was at 6.75 percent in morning trade.

Updated Date:

also read

US Fed hikes interest rate: Why it is trying to tame inflation and impact on India's economy
India

US Fed hikes interest rate: Why it is trying to tame inflation and impact on India's economy

The Federal Reserve interest hike of 75 bps could trigger a churn in equity markets, cool off investor enthusiasm and further weaken the Indian currency against the Greenback

Rupee settles flat at 78.09 against US dollar
Business

Rupee settles flat at 78.09 against US dollar

At the interbank forex market, the rupee opened strong at 78.03 against the greenback and witnessed an intra-day high of 78.02 and a low of 78.09

P Chidambaram targets Centre over state of economy
Politics

P Chidambaram targets Centre over state of economy

He also questioned the government for 'backsliding' on the fiscal deficit target for the current year