Rupee gains 18 paise, opens at 69.68 per US dollar as crude oil prices fall

By: | Published: November 30, 2018 9:54 AM

The rupee opened higher by 18 paise at 69.68 per US dollar on Friday versus previous close 69.85, Bloomberg index showed.

Since August 21, it was the highest closing for rupee against the greenback.

Rupee opened higher by 18 paise at 69.68 per US dollar on Friday versus previous close 69.85, Bloomberg index showed. On Thursday, the partially convertible rupee closed gaining 78 paise at against Wednesday’s closing of 70.62 per US dollar as global crude oil prices eased. Since August 21, it was the highest closing for rupee against the greenback.

“Sustained capital inflows and declining oil prices aided the domestic currency that breached the 70-mark for the first time in three months. The weak greenback, after Fed official’s speech, propelled the local unit’s up move. Rupee yesterday opened higher at 70.15 against its previous close of 70.62 and hit an intraday high of 69.88 a dollar and finally settled at 69.85. Rupee may test 69.03 level on the upside while a move below 71.22 may bring it down to 72.90,” Geojit Financial Services said.

Also read: Share market LIVE updates: Sensex jumps 150 pts, Nifty reclaims 10,900; Yes Bank up 5%; Vodafone Idea down 2%

Meanwhile, after opening on a positive note, the BSE Sensex extended gains and surged over 150 points in early morning trade today. The NSE Nifty 50 reclaimed the 10,900-mark.

Yes Bank shares jumped over 5 percent on the BSE, while Tata Motors shares slipped 3 percent. Vodafone Idea shares were down over 2 percent after ratings agency CRISIL downgraded the ratings of its debt instruments.

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