Rupee Surges 15 Paise Against US Dollar

Mumbai: The rupee on Monday appreciated by 15 paise to 69.99 against the U.S. dollar amid weakening of the American currency, fresh foreign inflows and higher opening of domestic equities.

On Friday, the rupee had edged 14 paise lower to close at 70.14. On the other hand, the U.S. dollar depreciated against most Asian currencies after Federal Reserve Chairman Jerome Powell said the central bank was in no hurry to change interest rates.

Forex dealers said fresh foreign fund inflows and positive sentiment helped the domestic unit to gain better grounds against the dollar.

As per provisional data, Foreign Institutional Investors (FIIs) remained net buyers in the capital markets, putting in 11,095.06 crore on Friday.

Meanwhile, Brent crude, the global oil benchmark, rose 0.44% to $66.03 per barrel. Furthermore, Sensex also opened on a positive note, trading 228.90 points higher at 36,900.33. Similarly, Nifty also rose 75.90 points at 11,111.30.

Also Read: Mumbai World’s 12th Most Wealthy City: Report

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