On Monday, Indian Rupee increased by 16 paise to 68.53 against the US Dollar in the opening trade, driven by positive starting in domestic equities and easing crude oil prices. Indian Rupee opened strong at 68.59 at the Forex Market, then appreciated further to touch 68.53 per Dollar, shows gains of 16 paise over its previous close. On Friday, Indian Rupee had settled at 68.69 against the US Dollar.
Forex dealers claim that easing crude oil prices as well as positive opening in domestic equities supported by the Indian currency. However, the foreign fund outflows weighed on the domestic currency and restricted up movement.
Meanwhile, the global benchmark Brent Crude was trading at 66.64 per barrel, which is lower by 0.12 percent.
In the Capital Markets, FIIs (Foreign Institutional Investors) remained the net sellers, pulled out Rs. 850.11 crores on last day, informed provisional data.
Traders claim that the Currency Market is likely to witness volatility ahead of the release of WPI inflation numbers.
However, the benchmark BSE Sensex opened on a positive note, was trading with gains of 138.45 points, or 0.36 percent to stand at 38874.68, while NSE Nifty trade at 11584.05, up 0.27 percent or 31.55 points.