Rupee gains 30 paise against dollar in opening trade

DN Bureau

The rupee rose by 30 paise to 70.05 against the US currency in opening trade Friday aided by foreign fund inflows amid a weak dollar globally and sharp fall in crude oil prices.

File Photo
File Photo

Mumbai: The rupee rose by 30 paise to 70.05 against the US currency in opening trade Friday aided by foreign fund inflows amid a weak dollar globally and sharp fall in crude oil prices.

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The dollar index, which gauges the American currencies strength against a basket of six currencies, was down 0.23 per cent at 96.35. Overnight losses in crude oil also supported early gains in the rupee, analysts said.

The oil prices, however, recovered losses Friday to trade 2.26 per cent higher at USD 53.34 a barrel.

The rupee was quoted at 70.10 to the US dollar at 0935 hrs, showing gains of 25 paise or 0.36 per cent.

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Foreign portfolio investors (FPIs) bought shares worth Rs 1,731.91 crore Thursday on a net basis.

Meanwhile, BSE benchmark Sensex rallied 304 points or 0.85 per cent to trade above 36,000 level. The broader NSE Nifty gained 86 points or 0.81 per cent in early trade. (PTI)

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