The rupee opened higher against the greenback on Friday, as sustained overseas fund inflows in the debt and equity markets helped support the domestic unit.
At 09:10 AM, the
rupee was trading at 68.62 a dollar, up 21 paise from its Wednesday’s close of 68.83. The home currency opened at 68.69 and touched a high and a low of 68.57 and 68.70 a dollar, respectively.
Indian financial and money markets were shut on Thursday for a public holiday.
The Indian currency has been riding high on massive liquidity push in the form of strong foreign fund inflows in March. On a net basis, Foreign Institutional Investors (FIIs) bought shares worth a net of Rs 1,771.61 crore on Wednesday, while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 1,323.17 crore, provisional data available with BSE showed.
Globally, the dollar largely held onto the previous session’s gains in early Asian trade on Friday.
Against a basket of key rival currencies, the dollar was about 0.1 percent lower at 96.394.
In commodity markets, oil prices hovered close to 2019 peaks reached the previous day, propped up by supply cuts led by producer club OPEC.
International Brent crude oil futures were at $67.82 per barrel at 0122 GMT, down 4 cents from their last close but within a dollar of the $68.69 per barrel 2019-high marked the day before.
In debt markets, the
yields on the 10-year government bonds were down 0.52 percent to 7.32 percent from its previous close of 7.36 percent. Bond yields and prices move in opposite directions.
