Rupee rises 6 paise to 71.70 against dollar in early trade amid fresh foreign fund inflows, easing crude oil prices

Mumbai: The Indian rupee on Friday appreciated by 6 paise to 71.70 against the US dollar, amid fresh foreign fund inflows and easing crude oil prices.

#Rupee opens flat Vs yesterday's close pic.twitter.com/gCBatrbNzz

— CNBC-TV18 (@CNBCTV18Live) November 22, 2019

At the interbank foreign exchange, the rupee opened at 71.77, showing a decline of just 1 paise over its previous closing.

The domestic unit, however, gained some momentum and touched a high of 71.70 against the dollar, showing a rise of 6 paise over its last close.

The Indian rupee on Thursday had closed at 71.76 against the US dollar.

Traders said rupee is trading in a narrow range as market is awaiting fresh cues on the potential US-China trade deal.

Meanwhile, Brent crude futures, the global oil benchmark, fell 0.58 percent to $63.61 per barrel.

Foreign institutional investors remained net buyers in the capital markets, as they purchased shares worth Rs 5,023.54 crore on Thursday, as per provisional data.

Domestic bourses opened on a cautious note on Friday with benchmark indices Sensex trading 13.98 points up at 40,589.15 and Nifty down 9.50 points to 11,958.90 .

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.04 percent to 97.95.

The 10-year government bond yield was at 6.50 percent in morning trade.