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This article is more than 3 year old.

Rupee gains 16 paise to 69.69/US dollar in opening trade

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Indian rupee opened stronger by 16 paise against the greenback on Friday on the back of easing global oil prices and sluggish US dollar.

Rupee gains 16 paise to 69.69/US dollar in opening trade
Indian rupee opened stronger by 16 paise against the greenback on Friday on the back of easing global oil prices and steady US dollar.
At 09:10 AM, the rupee was trading at 69.72 a dollar, up 13 paise from its Thursday’s close of 69.85. The home currency opened at 69.69 and touched a high and a low of 69.67 and 69.74 a dollar, respectively.
The rupee vaulted 77 paise to close at 69.85 against the US currency on Thursday on weak dollar and fresh foreign capital inflows.
Oil prices edged up on Friday, although swelling US supplies kept markets in check. International Brent crude oil futures were up 15 cents, or 0.3 percent, at $59.66 per barrel.
Despite the firmer prices, crude oil has lost almost a third in value since early October because of an emerging supply glut following a global surge in production.
The American currency held steady in early Asian trade on Friday, with an index measuring its value versus six peers up marginally at 96.77.
Besides, fund inflows by foreign investors also supported the domestic unit.
On net basis, foreign funds bought shares worth Rs 823.47 crore, while DIIs purchased share to the tune of Rs 973.31 crore Thursday, provisional data showed.
In debt markets, the yields on the 10-year government bonds rose 0.22 percent to 7.63 percent after closing at 7.61 percent on Thursday. Bond yields and prices move in opposite directions.
 
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