MUMBAI: The rupee appreciated by 19 paise to 69.34 against the US dollar in opening trade on Monday.
At the interbank foreign exchange market, the domestic unit opened at 69.40 against the dollar, then gained momentum and touched 69.34, up 19 paise over its previous close.
On Friday, the rupee had settled at 69.53 against the US dollar.
The local unit, however, pared some gains and was quoted at 69.43 against the American currency at 0947 hrs.
“Selling of the American currency by exporters, positive opening in domestic equities and foreign fund inflows supported the rupee”, Forex dealers said.
On the other hand, rising crude prices restricted the rupee upmove.
As per the provisional data, Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 2,026.33 crore on Friday.
Brent crude futures, the global oil benchmark, rose 0.03 per cent to USD 68.71 per barrel.
Meanwhile, domestic bourses opened on a bullish note on Monday with benchmark indices Sensex trading 183.34 points up at 39,618.06 and Nifty up 35.05 points at 11,879.15.
With inputs from PTI