Markets

Rupee rises 6 paise to 71.70 against US dollar in early trade

Representational image.

Representational image.   | Photo Credit: S.R. Raghunathan

more-in

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

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.

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 per cent 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 per cent to 97.95.

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

Why you should pay for quality journalism - Click to know more

Related Topics Markets
Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Dec 6, 2019 12:56:17 AM | https://www.thehindu.com/business/markets/rupee-rises-6-paise-to-7170-against-us-dollar-in-early-trade/article30046521.ece

Next Story