Rupee rises 8 paise vs USD in early trade
New
Delhi,
June
12:
The
rupee
appreciated
by
8
paise
to
69.38
against
the
US
dollar
in
opening
trade
Wednesday,
driven
by
easing
crude
oil
prices
and
foreign
fund
inflows.
Forex
traders
said
the
weakening
of
the
greenback
vis-a-vis
some
major
currencies
overseas
aided
the
local
unit.
However,
a
weak
opening
in
domestic
equities
weighed
on
the
domestic
currency.
The rupee opened strong at 69.38 at the interbank forex market, then gained further ground and touched 69.36, displaying gains of 8 paise over its last close.
The local unit however, pared some gains and was trading at 69.38, up 6 paise from its previous close at 1005 hrs.
The rupee had settled at 69.44 against the US dollar Tuesday.
In early trade, Rupee rises 21 paise against US dollar
Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 95.79 crore Tuesday, according to provisional exchange data.
Brent crude futures, the global oil benchmark, eased 1.43 per cent to USD 61.40 per barrel.
Domestic bourses opened on a bearish note Wednesday with benchmark indices Sensex trading 202.24 points down at 39,748.22 and Nifty down 57.65 points at 11,907.95.