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Rupee turns stronger by 13 paise to 69.22 against US dollar

The rupee appreciated by 13 paise to 69.22/$ on Tuesday. Indian rupee opened marginally higher at 69.32/$ at the inter-bank forex market, against  yesterday's close of 69.35/$. 

twitter-logo BusinessToday.In        Last Updated: June 25, 2019  | 13:36 IST
Rupee turns stronger by 13 paise to 69.22 against US dollar
The money market, remained up on Tuesday, despite the early exit of Viral Acharya, deputy governor of the Reserve Bank of India (RBI).

The rupee appreciated by 13 paise to 69.22/$ on Tuesday. Indian rupee opened marginally higher at 69.32/$ at the inter-bank forex market, against  yesterday's close of 69.35/$.  

Later, it gained further ground and appreciated by 13 paise to touch 69.22/$, against the greenback.

On Monday, the rupee appreciated by 22 paisa against the greenback to close at 69.35, a near two-week high. The 12-month rupee forwards, surged to two-year high this month.

The money market, remained up on Tuesday, despite the early exit of Viral Acharya, deputy governor of the Reserve Bank of India (RBI).

Rupee's incline was driven by easing crude oil prices, foreign fund inflows and weakening of the US dollar in the overseas market.

The dollar index, which tracks the greenback against a basket of its peers, fell 0.04% to 95.93. Later, it fell further down by 0.06% to 95.92 USD against the previous close of 95.98 today.

As per provisional data provided on exchange platforms, foreign institutional investors bought equity shares worth Rs 207.33 crore on a net basis on Monday.

While, the equity market was trading choppy in today trade, on back of falling Asian equities. Asian markets were down on Tuesday as investors awaited the meet between US President Trump and Chinese President Jinping set to happen later in the week at G20 summit.

Benchmark BSE 30 share Sensex was trading at 38,154, up by 31 points and the NSE Nifty50 was trading at 11,709, at a gain of 9.65 points.

Brent crude, the global benchmark, turned red in Asian trading hours to trade at $64.81, down by 0.05 points or 0.08%. Later it was trading at 64.25 per barrel lower by 0.94%.

(Edited by Rupa Burman Roy)

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