Rupee Rises by 8 Paise to 69.63 Against Dollar in Early Trade
Selling of the American currency by exporters, a positive opening in domestic equities and fresh foreign fund inflows is said to have supported the rupee.
Representative Image (Reuters).
Mumbai: The rupee appreciated by 8 paise to 69.63 against the US dollar in opening trade on Wednesday, driven by sustained foreign fund flows and higher opening in domestic equity market.
The rupee opened at 69.71 at the interbank forex market then gained further ground and touched 69.63, displaying gains of 8 paise over its last close.
The rupee on Tuesday had strengthened by 18 paise to close at 69.71 against the US dollar.
Forex dealers said, selling of the American currency by exporters and positive opening in domestic equities supported the rupee. Besides, fresh foreign fund inflows also aided the uptrend.
However, rising crude prices restricted the upmove.
Meanwhile, foreign investors (FIIs) remained net buyers in the capital markets, putting in Rs 2,477 crore on a net basis on Tuesday, as per provisional data.
Brent crude futures, the global oil benchmark, gained 0.27 per cent to USD 66.85 per barrel.
Meanwhile, the benchmark BSE Sensex was trading higher by 78.22 points, or 0.21 per cent to quote at 37,613.88 while the NSE Nifty was trading at 11,319.70, up by 18.50 points, or 0.16 per cent.
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.
Recommended For You
- 'Bhindi,' Coconut, 'Hing' and Raw Turmeric: Chefs Reveal Their Most Hated Ingredients
- Maruti Suzuki S-Presso Mini SUV Officially Teased Ahead of September 30 Launch: Watch Video
- Pankaj Tripathi Shares Emotional Incident When He Stole His 'Guru' Manoj Bajpayee's Slippers
- Area 51 Raid: Here's How Many People Turned Up, and What Really Happened
- OnePlus 7 Pro, OnePlus 7 Get OxygenOS 10 Based on Android 10 Update