Rupee rises 9 paise against US dollar in early trade
Business | April 23, 2019 10:30 ISTBesides, a positive start of the equity markets influenced the recovery of the rupee, they added.
Besides, a positive start of the equity markets influenced the recovery of the rupee, they added.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.02 per cent to 97.39.
On Tuesday the rupee had settled at 69.60 against the US dollar.
The rupee opened at 69.55 at the interbank forex market, then lost further ground and fell to 69.59, down 17 paise over its last close.
The rupee opened strong at 69.07 at the interbank forex market, then lost ground and fell to 69.24 down 7 paise over its last close.
At the Interbank Foreign Exchange, the rupee opened on a weak note at 69.04 then fell further to 69.24 against the US dollar, showing a decline of 32 paise over its previous closing.
The rupee opened weak at 69.15 at the interbank forex market, then fell further to 69.20 down 9 paise against its last close.
Brent crude futures, the global oil benchmark, eased 0.03 per cent to USD 70.59 per barrel.
The rupee had declined by 44 paise to close at 69.67 against the US dollar Monday.
Forex traders said strong US job data and rising crude oil prices in overseas market added pressure to the domestic unit.
The rupee had surged by 33 paise to close at 68.41 against the US dollar Wednesday.
On Tuesday, the rupee had settled at 68.74 against the US dollar.
At the Interbank Foreign Exchange (forex), the domestic unit opened strong at 69.20 then gained further momentum and was trading at 69.15, higher by 15 paise over its previous close.
On Wednesday, the rupee had weakened marginally by 2 paise to close at 68.88 against the US dollar.
On Tuesday, the rupee had appreciated by 10 paise to end at 68.86 against the US dollar following a robust response to RBI's maiden rupee-dollar swap auction.
Meanwhile, the benchmark BSE Sensex recovered by 77.38 points, or 0.20 per cent, to 37,886.29 in early trade Tuesday.
On Friday, the rupee had ended lower by 12 paise at 68.95 against the American currency on rise in demand for the greenback from importers and sell-off in domestic equities.
The rupee opened at 68.60 at the interbank forex market, then gained further ground and touched 68.57, displaying gains of 6 paise over its last close.
The rupee on Thursday had strengthened by 20 paise to close at 69.34 against the US dollar.
The rupee Wednesday had strengthened by 17 paise to close at a two-month high of 69.54 against the US dollar.
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