ZCZC
BCN-25
INDIA-RUPEE-USD
Rupee rises 7 paise to 70.34 vs USD in early trade
Mumbai, Jan 11, 2019 (BSS/PTI) – The rupee appreciated by 7 paise to 70.34
against the US dollar in opening trade Friday, driven by gains in domestic
equities and weakening of the greenback in overseas markets.
The rupee opened strong at 70.38 at the interbank forex market against
previous close of 70.41 per dollar then gained further ground and touched a
high of 70.34 amid positive opening in domestic equities, displaying gains of
7 paise against the greenback.
On Wednesday, the rupee had risen by 5 paise to close at 70.41 against the US
dollar.
Forex dealers said, selling of the American currency by exporters and easing
crude prices supported the rupee in early trade.
Meanwhile, brent crude, the global benchmark, was trading lower at 61.57 per
barrel lower by 0.18 per cent.
Traders said, sustained foreign fund outflows however restricted the rupee up
move.
Foreign funds pulled out Rs 344.58 crore from the capital markets on a net
basis, while domestic institutional investors purchased shares worth Rs 10.98
crore Thursday, provisional data showed.
Meanwhile, the benchmark BSE Sensex was trading with gains of 76.24 points,
or 0.20 per cent to quote at 36,179.14 while the NSE Nifty was trading at 10,
836.90, up 15.30 points, or 0.14 per cent.
BSS/AFP/HR/1145