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Rupee Opens Higher At 69.84 As Oil Prices Decline

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The Indian rupee resumed trade with gains on Tuesday and opened higher by 0.24% at 69.84 per dollar. On Monday, stock, currency and commodity markets were closed for the fourth phase of Lok Sabha elections.

Rupee Opens Higher At 69.84 As Oil Prices Decline
 

The surge in domestic currency came on the back of a decline in oil prices, the leading import item of the country. Brent crude for June settlement, after surging to multi-month highs last week, declined in price to $71.76 per barrel, with a drop of 28 cents.

On Friday, the rupee closed at 70.02 against the greenback.

Meanwhile, benchmark indices opened lower while Nifty was trading lower by 0.19%, Sensex dropped 0.19% in early trade.

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