Rupee signs 11 paise against the dollar

Mumbai, November 1 () The rupee appreciated in 11 countries to close at 70.81 against the US dollar on Friday due to the sale at the end of the dollar by banks and importers amid persistent inflows of foreign funds.

However, strengthening crude oil prices limited the profits of the national unit, currency traders said.

In the interbank currency market, the rupee opened weakly at 70.96 and touched a minimum of 70.98 in early trade.

However, the late sale of dollars by the banks helped the rupee recover its losses. Finally, it ended at 70.81 against the US currency, showing an increase of 11 countries over its previous close.

On a weekly basis, the rupee fell 9 paise against the dollar.

Continuing with their purchasing spree, foreign institutional investors (FII) injected a net rupee of Rs 533.37 in shares on Friday, provisional exchange data showed.

The dollar index, which measures the strength of the dollar against a basket of six currencies, fell 0.11 percent to 97.24.

Brent crude futures, the global benchmark for oil, were trading 0.54 percent higher at USD 59.94 per barrel.

The yield on 10-year government bonds was 6.43 percent in the morning trade. Meanwhile, national stock markets posted gains for the sixth consecutive session on Friday. The BSE Sensex closed 35.98 points, or 0.09 percent, higher at 40,165.03. The broader NIF NSE advanced 13.15 points, or 0.11 percent, to close at 11,890.60. BAL ABM ABM

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