Rupee rises 12 paise to 69.71 against Dollar in early trade

The rupee appreciated by 12 paise to 69.71 against the U.S. dollar in opening trade on may 30, driven by positive opening in domestic equities and weakening of the greenback in overseas markets.

The rupee opened strong at 69.76 at the interbank Forex market then gained further ground to touch 69.71 per dollar amid positive opening in domestic equities, displaying gains of 12 paise against the greenback.

On Wednesday, the Rupee had settled at 69.83 against the U.S. Dollar.

Forex dealers said, selling of the American currency by exporters supported the rupee. However, rising crude



oil prices and foreign fund outflows weighed on the domestic currency.

Foreign funds pulled out ₹304.27 crore in the capital markets on a net basis Wednesday, provisional data showed.

The benchmark BSE Sensex was trading with gains of 161.18 points, or 0.41% to quote at 39,663.23 while the NSE Nifty was trading at 11,903.90, up 42.80 points, or 0.36%.

Meanwhile, brent crude, the global benchmark, was trading at 69.62 per barrel higher by 0.24%.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.02% to 98.12.