Rupee gains 9 paise to 70.43 against dollar

Rupee gains 9 paise to 70.43 against dollar in early trade on weak global cues and foreign fund inflows. The rupee opened at 70.43 in the Interbank Forex market, which was showing the strength of 9 paise against the previous closing. On Monday, the rupee dropped by 59 paise to close at about two-and-a-half month low of 70.51 against the dollar.


Foreign currency dealers said, the withdrawal of foreign funds, rising crude oil prices and concerns about the US-China trade came down heavily in rupee yesterday. Foreign Institutional Investors (FIIs) remained a net seller in domestic markets. According to provisional figures, on Monday, FIIs withdrew Rs 1,056.01 crore from the market.

Global oil benchmark Brent crude futures rose 0.34 percent to $ 70.47 a barrel. Meanwhile, the BSE Sensex was trading 55.38 points down at the lowest level of 37,035.44. NSE Nifty was trading 16 points down at 11,132.20

Speaking of the global front, US President Donald Trump stuck on its policy of imposing heavy import duty on Chinese products, as a result of which China responded This led to a huge decline in the US stock market fearing the US-China trade war.

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