Mumbai: On Friday,The rupee appreciated by 6 paise to 68.57 against the US dollar in opening trade driven by sustained foreign fund inflows and higher opening of domestic equities. The rupee opened at 68.60 at the interbank forex market, then gained further ground and touched 68.57, displaying gains of 6 paise over its last close. The rupee Wednesday had recovered by 13 paise to close at 68.83 against the US dollar. The forex market was closed Thursday on account of Holi. Forex dealers said, selling of the American currency by exporters and positive opening in domestic equities supported the rupee. Fresh foreign fund inflows and easing crude prices also supported the rupee, they added.
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While on Wednesday, on a net basis, Foreign Institutional Investors (FIIs) bought shares worth a net of Rs 1,771.61 crore on Wednesday, while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 1,323.17 crore, provisional data available with BSE showed. The dollar index, which gauges the greenback's strength against a basket of six currencies, surged 0.07 per cent to 96.44, ahead of the outcome of the Federal Open Market Committee (FOMC) meeting.
Meanwhile, brent crude, the global oil benchmark, was trading at USD 67.39 per barrel, lower by 0.33 per cent. On the equity front, the 30-share Sensex continued its winning run for the eighth consecutive session Wednesday. The 30-share index closed at 38,386.75, registering a rise of 23.28 points, or 0.06 per cent. However, the 50-share Nifty ended 11.35 points, or 0.10 per cent, lower at 11,521.05. Meanwhile, Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 68.8604 and for rupee/euro at 78.1446. The reference rate for rupee/British pound was fixed at 91.2846 and for rupee/100 Japanese yen at 61.72.
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