INSUBCONTINENT EXCLUSIVE:
The rupee on Wednesday had strengthened by 17 paise to close at 69.54 against thedollar.Mumbai: The rupee fell by 24 paise to 69.78 against
the dollar in opening trade on Thursday on increased demand for the greenback from importers and banks and rising crude oil prices. Forex
dealers said, strengthening of the American currency in overseas market weighed on the domestic currency
However, sustained foreign fund inflows and higher opening in domestic equities supported the rupee and restricted the fall. The local
unit opened weak at 69.75 at the forex market, then fell further to 69.78 down 24 paise over its last close
The currency, however, pared the initial loss and was trading at 69.63 at 0920 hrs
The rupee on Wednesday had strengthened by 17 paise to close at a two-month high of 69.54 against the dollar. Foreign institutional
investors (FIIs) remained net buyers in the capital markets, putting in Rs 2,722.28 crore on Wednesday, as per provisional data.
Meanwhile, brent crude futures, the global oil benchmark, rose 0.37 per cent to trade at $67.80 per barrel. Domestic bourses rallied in
early trade on Thursday, with benchmark indices Sensex trading 128.39 points up at 37,880.47 and Nifty at 11,374.99 points, up 33.20
