Mumbai: The rupee surged by 12 paise to 69.71 against the U.S. dollar in opening trade on Thursday, driven by positive opening in domestic equities and weakening of the greenback in overseas markets.
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.
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.
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%.
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