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  Business   Market  27 May 2019  Rupee rises 19 paise against dollar in early trade

Rupee rises 19 paise against dollar in early trade

PTI
Published : May 27, 2019, 10:03 am IST
Updated : May 27, 2019, 10:03 am IST

Rupee is trading at 69.34 against dollar driven by weakening of the greenback and positive opening in domestic equities.

Positive opening in domestic equities and foreign fund inflows supported the rupee.
 Positive opening in domestic equities and foreign fund inflows supported the rupee.

Mumbai: The rupee appreciated by 19 paise to 69.34 against the US dollar in opening trade on Monday, driven by weakening of the greenback and positive opening in domestic equities.

At the interbank foreign exchange market, the domestic unit opened at 69.40 against the dollar, then gained momentum and touched 69.34, up 19 paise over its previous close.

 

The rupee had settled at 69.53 against the US dollar Friday. The local unit, however, pared some gains and was quoted at 69.43 against the American currency at 0947 hrs.

Forex dealers said, selling of the American currency by exporters, positive opening in domestic equities and foreign fund inflows supported the rupee. On the other hand, rising crude prices restricted the rupee upmove.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 2,026.33 crore on Friday, as per the provisional data.

Brent crude futures, the global oil benchmark, rose 0.03 per cent to USD 68.71 per barrel.

Meanwhile, domestic bourses opened on a bullish note Monday with benchmark indices Sensex trading 183.34 points up at 39,618.06 and Nifty up 35.05 points at 11,879.15.

 

Tags: rupee, dollar, american currency, indian currency
Location: India, Maharashtra, Mumbai (Bombay)