Rupee climbs 6 paise to 69.80 against US dollar on foreign fund inflows
At the Interbank Foreign Exchange market, rupee opened marginally lower at 69.75 against the US dollar; the local unit rose 6 paise to 69.80 in early trade against its previous close of 69.74
- May 21, 2019,
- Updated May 21, 2019 1:17 PM IST
The Indian rupee rose for the second straight session on Tuesday, gaining as much as 6 paise to Rs 69.80 against the US dollar amid sustained fund inflows by foreign investors after exit poll results predicted a clear majority for the BJP-led National Democratic Alliance (NDA) government.
Adding to it, firm cues from Indian equity markets also gave a boost to the forex market.
However, a strong US dollar against a basket of other Asian currencies and rise in crude oil prices in the international market restricted rupee's upward move.
At the Interbank Foreign Exchange market, the domestic currency opened marginally lower at 69.75 against the US dollar. The local unit rose 6 paise to Rs 69.80 in early trade against its previous close of Rs 69.74.
The rupee has gained 49 paise to close at Rs 69.74 against the US dollar on Monday after exit polls showed Narendra Modi-led NDA government was set to return to power on May 23. Positive equity market sentiment also helped the domestic currency.
The Indian rupee rose for the second straight session on Tuesday, gaining as much as 6 paise to Rs 69.80 against the US dollar amid sustained fund inflows by foreign investors after exit poll results predicted a clear majority for the BJP-led National Democratic Alliance (NDA) government.
Adding to it, firm cues from Indian equity markets also gave a boost to the forex market.
However, a strong US dollar against a basket of other Asian currencies and rise in crude oil prices in the international market restricted rupee's upward move.
At the Interbank Foreign Exchange market, the domestic currency opened marginally lower at 69.75 against the US dollar. The local unit rose 6 paise to Rs 69.80 in early trade against its previous close of Rs 69.74.
The rupee has gained 49 paise to close at Rs 69.74 against the US dollar on Monday after exit polls showed Narendra Modi-led NDA government was set to return to power on May 23. Positive equity market sentiment also helped the domestic currency.