Rupee appreciates 19 paise to 71.59 against US dollar in early trade


MUMBAI: The Indian rupee appreciated by 19 paise to 71.59 against the US dollar in early trade on Monday.

At the interbank foreign exchange, the rupee opened at 71.67, then gained further ground and touched a high of 71.59, registering a rise of 19 paise over its previous close.
On Friday, the rupee had settled for the day at 71.78 against the US dollar.
The domestic unit, however, could not hold on to the gains and was trading at 71.65 against the dollar at 1016 hrs.
Domestic bourses opened on a positive note on Monday with benchmark indices Sensex trading 31.36 points higher at 40,388.05 and Nifty up 9.35 points at 11,904.80.
According to provisional exchange data, Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 1,008.37 crore on Friday.
Brent crude futures, the global oil benchmark, rose 0.03 per cent to trade at USD 63.32 per barrel.
However, weakening of the American currency vis-a-vis other currencies overseas supported the rupee. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.08 per cent to 97.92.
The 10-year government bond yield was at 6.50 per cent in morning trade.

With inputs from PTI


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