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Under Pressure Post Viral Acharya's Resignation, Rupee Opens at 69.58 Against US Dollar

Domestic bourses opened on a cautious note in early trade on Monday, amid rising crude oil prices, and foreign investors pulling out Rs 730 crores from the market.


Updated:June 24, 2019, 11:49 AM IST
Under Pressure Post Viral Acharya's Resignation, Rupee Opens at 69.58 Against US Dollar
Representative Image (Reuters).

Mumbai: The rupee opened on a flat note at 69.58 against the US dollar in opening trade on Monday amid rising crude oil prices and foreign fund outflows.

Forex traders said the domestic currency was under pressure and was trading in a narrow range after media reports surfaced that Viral Acharya has quit as RBI deputy governor, six months before the scheduled end of his term.

The rupee opened at 69.58 at the interbank forex market, unchanged from its previous closing level. Forex traders said, rising crude oil prices, foreign fund outflows and cautious opening in domestic equities kept investors edgy.

Brent crude futures, the global oil benchmark, rose 0.38 per cent to USD 65.45 per barrel. Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 730.58 crore on Friday, as per provisional data.

Domestic bourses opened on a cautious note Monday with benchmark indices Sensex trading 26.44 points down at 39,220.93 and Nifty down 5.55 points at 11,729.65.

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