Rupee rises by 12 paise to 69.05 vs USD in early trade

DN Bureau

The rupee appreciated by 12 paise to 69.05 against the US dollar in opening trade.

Representational image
Representational image

Mumbai: The rupee appreciated by 12 paise to 69.05 against the US dollar in opening trade Friday, driven by weakening of the greenback in overseas markets and higher opening in domestic equities.

Also Read: RBI cuts repo rate by 25 basis points to 6 pc

The rupee opened strong at 69.11 at the interbank forex market, then gained further ground and touched 69.05, displaying gains of 12 paise over its last close.

The rupee plunged 76 paise Thursday to close at 69.17 against the US dollar after the RBI cut key interest rate but kept its monetary policy stance 'neutral'.

However, foreign fund outflows weighed on the domestic currency and restricted the upmove.

Also Read: Sensex, Nifty turn volatile after RBI policy outcome

Meanwhile, the benchmark BSE Sensex was trading higher by 195.72 points, or 0.51 per cent to quote at 38,880.44 while the NSE Nifty was trading at 11,660.35, up by 62.35 points, or 0.54 per cent.(PTI)

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