Currency

Rupee opens higher at 71.26 per dollar

Updated : December 31, 2019 09:03 AM IST

Indian rupee opened higher on Tuesday against the US dollar amid global weakness in the greenback and optimism over US and China trade deal, dealers said.

Rupee opened at Rs 71.26 per dollar against the previous close of Rs 71.31.

On Monday, rupee appreciated by 4 paise to settle at 71.31 against the US currency amid weakening of the US dollar in overseas markets even as crude oil prices surged.

Oil prices edged lower on the final day of the year on Tuesday, but were on track for their biggest annual rise since 2016, supported by a thaw in U.S.-China trade dispute and ongoing supply cuts.

Brent crude futures for March delivery, the new front month contract, were down 11 cents, or 0.2 percent, to $66.56 a barrel by 0158 GMT, while U.S. West Texas Intermediate (WTI) crude for February was down 11 cents, or 0.2 percent, at $61.57 per barrel. Brent for February delivery closed on Monday at $68.44.

Asian shares slipped on the last trading day of the decade, echoing falls on Wall Street, as investors locked in gains made since the United States and China reached a preliminary trade deal earlier this month.

Have you signed up for Primo, our daily newsletter?

It has all the stories and data on the market, business, economy and tech that you need to know.

To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more

Rupee opens higher at 71.26 per dollar

You May Also Like

Income-Tax Dept raids on Lalit Hotels led to Rs 1,000-crore black foreign assets, says CBDT

Bank of Baroda reports net loss of Rs 1,406.9 crore in Q3, misses estimates

Budget alarm: Direct tax collection contracts 6.1% to Rs 7.26 lakh crore

Trending on CNBC-TV18

recommended for you