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

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

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

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

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.

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.

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

Representational image. Reuters.

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.

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Updated Date: Nov 22, 2019 11:17:57 IST