Rupee up 19 paise to Rs 69.34 in opening trade on weakening dollar, positive opening in domestic equities
The rupee had settled at 69.53 against the US dollar on Friday
Rupee opened at 69.40 against the dollar, then gained momentum and touched 69.34, up 19 paise over its previous close
Rupee pared some gains and was quoted at 69.43 against the American currency at 0947 hrs.
The rupee had settled at 69.53 against the US dollar Friday
Mumbai: The rupee appreciated by 19 paise to 69.34 against the US dollar in opening trade Monday, driven by weakening of the greenback and positive opening in domestic equities.
At the interbank foreign exchange market, the domestic unit opened at 69.40 against the dollar, then gained momentum and touched 69.34, up 19 paise over its previous close.
The rupee had settled at 69.53 against the US dollar Friday.
The local unit, however, pared some gains and was quoted at 69.43 against the American currency at 0947 hrs.
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 prices restricted the rupee upmove.
Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 2,026.33 crore Friday, as per the provisional data.
Brent crude futures, the global oil benchmark, rose 0.03 percent to $68.71 per barrel.
Meanwhile, domestic bourses opened on a bullish note Monday with benchmark indices Sensex trading 183.34 points up at 39,618.06 and Nifty up 35.05 points at 11,879.15.
Foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 802.81 crore, as per exchange data
BSE smallcap and midcap indices went down by 0.5-1.2 percent. On the other hand, India VIX increased by 5.67 percent and ended at 17.33 levels.
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NSE Nifty 50 posted a gain of 104.85 points or 0.59 percent to end at 17,895.20. Talking about sectors, Nifty IT and PSU Bank index soared by two and 1.65 percent respectively