Mumbai: Mounting for the fourth straight day, the Indian rupee raised 21 paise to a three month high of 69.64 against the US dollar in early trade on Friday in the midst of failing in the greenback against some foreign currencies and a higher opening of domestic equities.
Forex traders stated increased selling of the American currency by exporters and banks and continuous overseas fund inflows also supported the domestic currency.
Worth mention here at the interbank forex market, the rupee opened higher at 69.68 and climbed further to quote at 69.64. With this raise It showed a rise of 21 paise over its previous close.
It is noted that on Thursday the rupee had vaulted 77 paise to a three-month high of 69.85 per US dollar.
Meanwhile, on net basis, foreign funds purchased shares worth Rs 823.47 crore, while DIIs bought share to the tune of Rs 973.31 crore on Thursday, as provisional data showed.
The benchmark BSE Sensex gained over 150 points and the NSE Nifty started the December derivatives series by achieving the 10,900 mark in early trade Friday on positive cues from other Asian bourses prior to the two-day G20 Summit.