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Rupee appreciates to 69.72 against US dollar in early trade

Mumbai: The rupee rose by 15 paise to 69.72 against the US dollar in opening trade on Friday, driven by positive opening in domestic equities and weakening of the greenback in overseas markets.

Forex dealers said, easing crude prices, sustained foreign fund inflows and selling of the American currency by exporters supported the rupee.

The rupee opened strong at 69.78 at the interbank forex market then gained further ground to touch 69.72 per dollar, displaying gains of 15 paise against the greenback. On Thursday, the rupee had settled at 69.87 against the US dollar.

Thursday also marked the beginning of the second term for Narendra Modi-led BJP government at the centre. Modi and his cabinet of minister took the oath of office and secrecy. President Kovind administered the oath.

The benchmark BSE Sensex was trading with gains of 267.63 points, or 0.67 per cent to quote at 40,099.60 while the NSE Nifty was trading at 12,033.30, up 87.40 points, or 0.73 per cent. Brent crude, the global benchmark, was trading at 66.03 per barrel lower by 1.26 per cent.

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