Rupee up 19 paise to 69.37 vs $

Rupee up 19 paise to 69.37 vs $
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The rupee appreciated by 19 paise to 69.37 against the $ on Thursday, registering its third consecutive session of gain amid easing crude oil prices and weakening of the greenback against other major currencies overseas.

Mumbai: The rupee appreciated by 19 paise to 69.37 against the $ on Thursday, registering its third consecutive session of gain amid easing crude oil prices and weakening of the greenback against other major currencies overseas.

Forex dealers said selling of the American currency by exporters and sustained foreign fund inflows also propped up the rupee.

At the interbank foreign exchange market, the domestic unit opened at 69.60 per $ and advanced to a high of 69.62 during the day.

It finally settled at 69.37, registering a rise of 19 paise over its previous close.

The rupee had settled at 69.56 against the $ on Tuesday. Currency market was shut on Wednesday on account of Maharashtra Day.

Brent crude futures, the global oil benchmark, slipped 0.93 per cent to $71.51 per barrel. Crude prices have recovered significantly from their six-month high of $75.60 per barrel.

"Oil prices fell today, pulled down by record US crude production that led to a surge in inventories.

Brent is set for a weekly loss, which would break its longest string of weekly gains for a year," said V K Sharma, head PCG and capital markets strategy, HDFC Securities.

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