Rupee rises 11 paise to 70.81 towards greenback amid persistent international fund inflows; strengthening oil costs cap features

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Mumbai: The rupee appreciated by 11 paise to shut at 70.81 towards the US greenback on Friday resulting from fag-end promoting of the buck by banks and importers amid persistent international fund inflows.

Strengthening crude oil costs, nevertheless, capped the features for the home unit, foreign exchange sellers mentioned.

On the interbank international trade market, the rupee opened weak at 70.96 and touched a low of 70.98 in early commerce.

 Rupee rises 11 paise to 70.81 against dollar amid persistent foreign fund inflows; strengthening oil prices cap gains

Representational picture. Reuters.

Nonetheless, late promoting of {dollars} by banks helped the rupee recoup its losses. It lastly completed at 70.81 towards the US foreign money, exhibiting an increase of 11 paise over its earlier shut.

On weekly foundation, the rupee fell 9 paise towards the buck.

Persevering with their shopping for spree, international institutional traders (FIIs) pumped in a internet Rs 533.37 crore into equities on Friday, provisional trade information confirmed.

The greenback index, which gauges the buck’s power towards a basket of six currencies, slipped 0.11 % to 97.24.

Brent crude futures, the worldwide oil benchmark, was buying and selling 0.54 % larger at $59.94 per barrel.

The 10-year authorities bond yield was at 6.43 % in morning commerce.

In the meantime, home fairness markets notched up features for the sixth straight session on Friday. The BSE Sensex settled 35.98 factors, or 0.09 per cent, larger at 40,165.03. The broader NSE Nifty superior 13.15 factors, or 0.11 per cent, to shut at 11,890.60.

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