Rupee increased in 79 paise in USD after the election results

The rupee valued 79 paise to 69.44 on the US dollar in opening trade on Monday soon after the exit poll results proposed a different term for the ruling NDA government, also raw oil prices firmed up.

Views were also buoyed by positive opening in domestic equities.

The rupee began at 70.36 the interbank forex market, later increased more ground to touch 69.44 per dollar, representing gains of 79 paise on the greenback.

The rupee had ended at 70.23 on the US dollar on Friday. Foreign funds stretched out Rs.1,057.82 crore in the capital markets on a net basis on Thursday.

The benchmark BSE Sensex was trading with profits of 718.11 points, or 1.89%, to quote at 38,657.65 and the NSE Nifty was trading at 11,615, up 207.85 points, or 1.82%.

While, Brent crude, the global benchmark, was trading at 73.28% higher by 1.48%.

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