Mumbai: The Indian rupee appreciated by 19 paise to 71.59 against the US dollar in early trade on Monday tracking gains in domestic equity market and weakening of the American currency vis-a-vis other currencies overseas.
Also Read: Salaries are not subject to GST, clarifies CBIC
On Friday, rupee had settled for the day at 71.78 against the US dollar. The domestic unit, however, could not hold on to the gains and was trading at 71.65 against the dollar at 1016 hrs.
Domestic bourses opened on a positive note on Monday with benchmark indices Sensex trading 31.36 points higher at 40,388.05 and Nifty up 9.35 points at 11,904.80. Brent crude futures, the global oil benchmark, rose 0.03 per cent to trade at USD 63.32 per barrel.
Also Read: GST rate on electric vehicles cut from 12 to 5 pc from Aug 1
However, weakening of the American currency vis-a-vis other currencies overseas supported the rupee. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.08 per cent to 97.92. (ANI)
