Rupee ends firm at 69.70 versus USD 1-month-high

Rupee ends firm at 69.70 versus USD 1-month-high

Agency News

Mumbai, Mar 12 : The Rupee on Tuesday posted a gain of 18 paise to end positive at 69.70, more than one-month-high on fresh foreign inflows, dealers at the Forex Market said.

Besides, selling of US dollar by exporters and banks also propelled the rupee higher. Rupee opened at 69.73 against the US dollar, showing a rise of 15 paise over the previous close of 69.88.

The local unit registered day's high and low at 69.76 and 69.50, respectively. Weak dollar against some other currencies and positive close in domestic equity market pushed the Indian currency firm, the broker added.

Meanwhile, Brent crude futures, the global oil benchmark, rose 0.39 per cent to quote at USD 66.84 per barrel. Oil prices rose on account of healthy demand and output cuts, led by producer group OPEC.

Rupee on Monday advanced by 27 paise to close at 69.88 against the US dollar, in line with a strong rally in domestic equities, reflecting positive investor sentiments, amid hopes that the incumbent NDA government will get the second term. (UNI)