Rupee rises 8 paise to 71.23 against US dollar in early trade

The Indian rupee on Thursday had closed at 71.31 against the dollar.

Published: 27th December 2019 11:23 AM  |   Last Updated: 27th December 2019 11:23 AM   |  A+A-

Indian currency, rupees, INR, money

For representational purposes ( File Photo | Reuters)


MUMBAI: The Indian rupee opened on a positive note and rose 8 paise to 71.23 against the US dollar in early trade on Friday tracking gains in domestic equity market, even as crude oil prices firmed up.

Forex traders positive opening in domestic equities supported the rupee, while steady rise in crude oil prices and foreign fund outflows weighed on the local unit.

At the interbank foreign exchange, the rupee opened at 71.26 then rose to 71.23 against the dollar, showing a rise of 8 paise over its previous closing.

The Indian rupee on Thursday had closed at 71.31 against the dollar.

Meanwhile, brent crude futures, the global oil benchmark, rose 0.16 per cent to USD 68.03 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital markets, as they sold shares worth Rs 504.13 crore on Thursday, as per provisional data.

Domestic bourses opened on a positive note on Friday with benchmark indices Sensex trading 161.59 points up at 41,325.35 and Nifty higher by 36.60 points at 12,163.15.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.10 per cent to 97.43.

The 10-year government bond yield was at 6.51 in morning trade.

Meanwhile, on the global front, China slammed US defence act over trade restrictions.

The National Defense Authorization Act (NDAA) -- signed into law last week -- bars the use of federal funds to buy railcars and buses from China, and slows the lifting of sanctions on tech giant Huawei.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp