Rupee settles 21 paise higher at 69.15 to US dollar
Business | June 26, 2019 18:37 ISTThe Indian rupee on Wednesday advanced by 21 paise to close at 69.15 against the US currency in line with uptrend in domestic equities.
The Indian rupee on Wednesday advanced by 21 paise to close at 69.15 against the US currency in line with uptrend in domestic equities.
The government and the Reserve Bank of India (RBI) are closely monitoring the rupee exchange rate against the dollar on an on-going basis
The rupee opened strong at 69.47 at the interbank forex market, but lost ground and touched 69.67 per dollar, displaying gains of just 1 paise against the greenback.
Foreign funds infused Rs 31.73 crore in the capital markets on a net basis Tuesday, provisional data showed.
The Indian rupee Monday fell by another 11 paise to close at 69.91 to the US currency, its third straight-session loss, in line with intense sell-offs in domestic equities amid concerns over Indo-US trade tariff disagreements.
At the interbank foreign exchange, the domestic unit opened almost flat at 69.70 against the dollar and then it strengthened by 5 paise to quote at 69.67 in early trade.
The rupee had appreciated 49 paise to 69.74 in the previous session and inched up 6 paise to 69.80 against US dollar in the second session
Besides, a positive start of the equity markets influenced the recovery of the rupee, they added.
The rupee rebounded by 52 paise to close at 70.72 against the US dollar on Thursday as investors wagered on de-escalation of tensions between India and Pakistan.
The Indian rupee on Monday firmed up by 17 paise to close at 70.97 against the US dollar in line with most Asian currencies amid hopes that the US and China will soon reach an agreement to settle their trade tariff issues.
The rupee on Friday weakened by 10 paise to close at 71.17 against the US dollar amid increasing demand for the greenback from exporters and heavy selling in domestic equities.
The rupee on Friday weakened by 16 paise to close at 71.19 against the US dollar amid rise in demand for the greenback from exporters and unabated increase in global crude oil prices.
The rupee opened strong at 70.38 at the interbank forex market against previous close of 70.41 per dollar then gained further ground and touched a high of 70.34 amid positive opening in domestic equities, displaying gains of 7 paise against the greenback.
Brent crude, the global benchmark, was trading lower at 54.44 per barrel, lower by 0.86 per cent.
Forex traders said weakening of the US dollar against some currencies overseas aided the local unit.
At the Interbank Foreign Exchange, the rupee opened sharp lower at 70.27 a dollar against the previous close of 70.06. The domestic unit moved in a tight range of 70.31 to 70.22 in the morning trade.
Forex traders said strength in the US dollar against some currencies overseas weighed on the local unit.
At the Interbank Foreign Exchange, the rupee opened weak at 72.10 against the US dollar, then depreciated further to 72.17, showing a decline of 32 paise over its previous closing.
Forex traders said, increased selling of the American currency by exporters and banks and sustained foreign fund inflows also supported the domestic currency.
The rupee opened lower at 70.88 per dollar against and dropped further to quote at 70.89, 10 paise down over its previous close.
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