Mumbai: In opening trade on Friday, the rupee appreciated 16 paise to 70.09 against the US dollar driven by positive opening in domestic equities and weakening greenback in overseas markets. It is to be noted that, the rupee opened strong at 70.12 at the interbank forex market, then gained further ground to touch 70.09 per dollar, displaying gains of 16 paise against the greenback.
Here it is worth mention here that Forex dealers said, easing crude prices, sustained foreign fund inflows and selling of the American currency by exporters supported the rupee. Here it is needed to mention that on Thursday, the rupee had settled at 70.25 against the US dollar. Foreign funds infused Rs 3,785.73 crore in the capital market on a net basis, while domestic institutional investors sold shares worth Rs 4,069.98 crore Thursday, provisional data showed.
However, the benchmark BSE Sensex was trading with gains of 150.56 points, or 0.39 per cent, at 38,864.41; while the NSE Nifty was trading at 11,692.05, up 50.25 points, or 0.43 per cent.Meanwhile, Brent crude, the global benchmark, was trading at 74.14 per barrel lower by 0.28 per cent.