Rupee Rises 19 Paise Against Dollar At 70.98

Mumbai: The rupee on Monday rose by 19 paise to 70.98 against the US dollar in opening trade, amid weakening of the greenback in overseas markets and falling crude prices.

The domestic unit opened strong at 70.99 at the interbank forex market then gained further to 70.98 amid easing crude prices, showing a gain of 19 paise against the American currency.

The rupee on Friday weakened by 10 paise to close at 71.17 against the US dollar.

Forex dealers said falling crude oil prices and selling of the American currency by exporters and fresh fund inflows by supported the rupee, while a lower opening in domestic equity market restricted the uptrend.

The benchmark BSE Sensex was trading lower by 180.02 points, or 0.50 per cent to quote at 35,845.52 while the NSE Nifty was trading at 10,719.85, down 60.70 points, or 0.56 per cent. Meanwhile, the global Brent Crude was trading lower at per 61.36 barrel lower by 0.45 per cent.

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