Rupee opens up at 70.96 per dollar, highest this month

Coin

The Indian rupee opened at a one-month high of 70.96 per dollar as against the previous close of 71.05 on Tuesday’s market. The crude oil prices touched a near 3-month high on Monday due to surprising production curb by Saudi Arabia, the rupee reached higher by 16 paise at 71.05.

Oil prices dropped on Tuesday for a second straight session. Ahead of a policy meeting by the U.S. central bank, Gold prices held steady on Tuesday. The Sensex was down 73.09 points or 0.18% at 40414.34, and the Nifty was down 25 points or 0.21% at 11912.50.

The dollar-rupee contract on the NSE for the month of December was at 71.18 in the previous session. Open interest declined by 6.4% in the previous session.

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