ZCZC
BCN-20
INDIA-RUPEE-USD
Rupee opens on a flat note; inches up 3 paise to 71.32 against USD
Mumbai, Nov 28, 2019 (BSS/PTI) – The Indian rupee opened on a flat note
and appreciated by 3 paise to 71.32 against the US dollar in early trade on
Thursday tracking muted opening in domestic equities.
Forex traders said, the domestic unit was trading in a narrow range as
investors await clarity on the US-China trade front.
At the interbank foreign exchange, the rupee opened at 71.33, then gained
further ground and touched a high of 71.32, registering a rise of just 3
paise over its previous close.
The domestic unit however could not hold on to the gains and was trading at
71.37 against the dollar at 0931 hrs.
On Wednesday, the rupee had settled for the day at 71.35 against the US
dollar.
Traders said muted opening in domestic equities, easing crude oil prices
and weak dollar supported the local unit.
Meanwhile, the benchmark indices Sensex trading 32.40 points higher at
41,053.01 and Nifty was up 5.80 points at 12,106.50.
The dollar index, which gauges the greenback’s strength against a basket of
six currencies, fell marginally by 0.03 per cent to 98.33.
Brent crude futures, the global oil benchmark, fell 0.28 per cent to trade
at USD 63.88 per barrel.
Foreign institutional investors (FIIs) remained net buyers in the capital
market, as they purchased shares worth Rs 42.93 crore on Wednesday, according
to provisional exchange data.
The 10-year government bond yield was at 6.47 per cent on Thursday.
BSS/AFP/HR/1415