The Indian rupee gained 7 paise to trade at day’s high level of 69.67 against the dollar. The currency opened marginally lower at 69.75/$, down 1 paise against its previous close.
Notably, the currency is oscillating between gain and loss on Tuesday after gaining a 2-week high level of 69.74/$ on Monday.
At 12:40, PM, IST, the currency was trading 6 paise higher at 69.68/$.
The appreciation could be attributed to the sharp rally in the domestic equity market. Equity benchmark indices opened at a record high level on Tuesday. Further, increased foreign investment also kept rupee supportive.
In Monday’s trading session FIIs bought Rs1734cr worth of stock in cash. In the derivative market, FIIs bought Rs1,071cr of Index futures and bought Rs1,536cr worth of Index options. In the Stock futures segment, FIIs bought Rs793cr worth of stock futures and bought Rs26cr stock options.
However, rising oil prices in the global market along with the escalating trade war between the US and China capped the gain in domestic currency.
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