Rupee Moves Higher To 69.99 Against Dollar

The rupee appreciated 15 paise to 69.99 against the dollar on Monday on weakening greenback, fresh foreign inflows and higher opening of domestic equities. In its previous session Friday, the rupee edged 14 paise lower to close at 70.14. On a weekly basis, however, the domestic currency logged 78 paise gains.    

The dollar depreciated against most Asian currencies after Federal Reserve Chairman Jerome Powell said the central bank was in no hurry to change interest rates, forex traders said adding that fresh foreign fund inflows and positive sentiment on Dalal Street also buoyed the local unit.    

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,095.06 crore on Friday, as per provisional data.   

Bourses opened on a positive note with Sensex trading 228.90 points higher at 36,900.33 and Nifty rose 75.90 points at 11,111.30.    

Meanwhile, brent crude futures, the global oil benchmark, rose 0.44 per cent to 66.03 per barrel.