Rupee boosts 3 paise to 71.31 vs USD

The rupee crawled up 3 paise to 71.31 against the US dollar in initial trade on February 20 even as foreign fund outflows remained amid firming oil prices.

At the Interbank Foreign Exchange (forex) market, the domestic unit opened strong at 71.29 but gave up the profits to trade at 71.31.

The rupee had ended at 71.34 versus the greenback on February 18. Money markets were shut on February 19 on account of Chhatrapati Shivaji Jayanti.

Foreign institutional investors (FIIs) continued in sell-off mode, offloading shares worth a net ₹813.76 crore Tuesday, while domestic institutional investors (DIIs) bought properties to the tune of ₹1,163.85 crore, provisional data showed.

Brent crude futures, the global oil benchmark, was selling 0.14% higher at $66.54 per barrel.

The dollar ratio, which measures the greenback’s strength upon a basket of six currencies, was marginally down by 0.01% at 96.51.

While the benchmark BSE Sensex rose after nine straight gatherings of fall. It reflected 282.75 points, or 0.80%, to 35,635.36 in the early session on February 20.

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