Rupee rises 15 paise against US dollar in early trade

Mumbai: The rupee appreciated by 15 paise to 69.15 against the US dollar in opening trade on Friday, driven by sustained foreign fund inflows and higher opening in the domestic equity market.

At the Interbank Foreign Exchange (forex), the domestic unit opened strong at 69.20 then gained further momentum and was trading at 69.15, higher by 15 paise over its previous close.

On Thursday, the rupee slumped 42 paise to end at 69.30 against the US dollar.

Forex traders said, the weakening of the US dollar against some currencies overseas supported the local unit, however rising crude oil prices capped the gains.

The dollar index, which gauges the greenback's strength against a basket of six currencies, was marginally up by 0.01 per cent at 97.21.

Brent crude futures, the global oil benchmark, was trading 0.55 per cent up at USD 68.19 per barrel.

Foreign portfolio investors (FPIs) bought equities worth a net Rs 3,594.51 crore on Thursday, provisional data showed.

Meanwhile, the benchmark BSE Sensex was trading with gains of 72.81 points, or 0.19 per cent, at 38,618.53 in early trade on Friday.