Rupee strengthens by 16 paise against USD in early trade

Rupee strengthens by 16 paise against USD in early trade

PTIUpdated: Tuesday, May 28, 2019, 11:52 PM IST
article-image

Mumbai: The rupee appreciated 16 paise to 70.09 against the US dollar in opening trade on Friday, driven by positive opening in domestic equities and weakening greenback in overseas markets.

The rupee opened strong at 70.12 at the interbank forex market, then gained further ground to touch 70.09 per dollar, displaying gains of 16 paise against the greenback.

Forex dealers said, easing crude prices, sustained foreign fund inflows and selling of the American currency by exporters supported the rupee.

On Thursday, the rupee had settled at 70.25 against the US dollar. Foreign funds infused Rs 3,785.73 crore in capital market on a net basis, while domestic institutional investors sold shares worth Rs 4,069.98 crore Thursday, provisional data showed.

The benchmark BSE Sensex was trading with gains of 150.56 points, or 0.39 per cent, at 38,864.41; while the NSE Nifty was trading at 11,692.05, up 50.25 points, or 0.43 per cent.

Meanwhile, brent crude, the global benchmark, was trading at 74.14 per barrel lower by 0.28 per cent.

RECENT STORIES

Ipca Laboratories Shareholders Reject Employees Stock Option Scheme Resolution

Ipca Laboratories Shareholders Reject Employees Stock Option Scheme Resolution

Toyota Set To Raise Prices On Select Models Starting April 1!

Toyota Set To Raise Prices On Select Models Starting April 1!

The Storm On Wheels: Suzuki Launches V-STROM 800DE

The Storm On Wheels: Suzuki Launches V-STROM 800DE

With 1,59,000 Cases, Maharashtra, India's Richest State Has The Highest Number Of Bank Frauds:...

With 1,59,000 Cases, Maharashtra, India's Richest State Has The Highest Number Of Bank Frauds:...

Deepinder Goyal Net Worth: Zomato Boss Net Worth About ₹2,570 Cr, Check Out His Fleet Of Luxury...

Deepinder Goyal Net Worth: Zomato Boss Net Worth About ₹2,570 Cr, Check Out His Fleet Of Luxury...