On Thursday, rupee fell 2 paise to 70.20 against dollar.The rupee appreciated 34 paise to 69.86 against US dollar in opening trade Friday amid weakening American currency and positive opening of domestic equity market.Forex traders said, American currency lost some ground against major currencies overseas, while on domestic front, equity market staged a recovery and propped up rupee.
At Interbank Foreign Exchange (forex) market, rupee opened higher at 69.95 and rose further to touch a high of 69.86 a dollar, showing a rise of 34 paise over it's previous close.
On Thursday, rupee weakened for second straight session and fell 2 paise to 70.20 against dollar.Traders however said that significant foreign fund outflows and rising crude oil prices weighed on domestic currency and capped upmove.Foreign funds pulled out Rs 972.81 crore from capital markets on a net basis, while domestic institutional investors purchased shares worth Rs 34.52 crore Thursday, provisional data showed.
The global benchmark Brent crude was trading higher by 0.13 per cent at 56.02 per barrel.Meanwhile, BSE benchmark Sensex Friday rebounded nearly 200 points and NSE Nifty reclaimed 10,700 mark, driven by recovery in auto, metal and banking stocks amid buying by domestic institutional investors.