Mumbai, May 27 (PTI) The rupee appreciated by 19 paise to 69.34 against the US dollar in opening trade Monday, driven by weakening of the greenback and positive opening in domestic equities.

At the interbank foreign exchange market, the domestic unit opened at 69.40 against the dollar, then gained momentum and touched 69.34, up 19 paise over its previous close.

The rupee had settled at 69.53 against the US dollar Friday.

The local unit, however, pared some gains and was quoted at 69.43 against the American currency at 0947 hrs.

Forex dealers said, selling of the American currency by exporters, positive opening in domestic equities and foreign fund inflows supported the rupee.

On the other hand, rising crude prices restricted the rupee upmove.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 2,026.33 crore Friday, as per the provisional data.

Brent crude futures, the global oil benchmark, rose 0.03 per cent to USD 68.71 per barrel.

Meanwhile, domestic bourses opened on a bullish note Monday with benchmark indices Sensex trading 183.34 points up at 39,618.06 and Nifty up 35.05 points at 11,879.15. PTI

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)