Mumbai: The rupee appreciated by 19 paise to 69.34 against the US dollar in opening trade on Monday, driven by the weakening of the greenback and positive opening in domestic equities.
At the interbank foreign exchange market, the domestic unit opened at 69.40 against the dollar, then gained momentum and touched 69.34, up 19 paise over its previous close.
It is important to note here that the rupee had settled at 69.53 against the US dollar on Friday.
Forex dealers are of the opinion that selling of the American currency by exporters, positive opening in domestic equities and foreign fund inflows supported the rupee.
On the other hand, rising crude prices restricted the rupee upmove.
Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in ₹2,026.33 crore Friday, as per the provisional data.
Brent crude futures, the global oil benchmark, rose 0.03 per cent to USD 68.71 per barrel.
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Ms Kalinga