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Rupee Appreciates 15 Paise Against US Dollar in Early Trade

The US dollar depreciated against most Asian currencies after Federal Reserve Chairman Jerome Powell said the central bank was in no hurry to change interest rates.

PTI

Updated:March 11, 2019, 9:50 AM IST
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Rupee Appreciates 15 Paise Against US Dollar in Early Trade
Representative image (Reuters)
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Mumbai: The rupee appreciated 15 paise to 69.99 against the US dollar Monday on weakening greenback, fresh foreign inflows and higher opening of domestic equities.

In its previous session Friday, the rupee edged 14 paise lower to close at 70.14. On a weekly basis, however, the domestic currency logged 78 paise gains.

The US dollar depreciated against most Asian currencies after Federal Reserve Chairman Jerome Powell said the central bank was in no hurry to change interest rates, forex traders said adding that fresh foreign fund inflows and positive sentiment on Dalal Street also buoyed the local unit.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,095.06 crore on Friday, as per provisional data.

Indian bourses opened on a positive note with Sensex trading 228.90 points higher at 36,900.33 and Nifty rose 75.90 points at 11,111.30.

Meanwhile, brent crude futures, the global oil benchmark, rose 0.44 per cent to USD 66.03 per barrel.
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