Rupee rises 26 paise to 69.40 / USD in early trading before Lok Sabha election results

The rupee value rose by 26 points to 69.40 against the US dollar on Thursday's trading due to the seven-step Lok Sabha election vote counting across the country.

Counting exercises are available in more than 4,000 counting centers. Most exit polls predict that the National Democratic Alliance (NDA), led by BJP, is in the process of maintaining power for the second semester.

The strongest opening rupees at 69.45 at the interbank market, then increase again and touch 69.40 showing 26 gains at the end of the last trading session. The rupee was adjusted at 69.66 against the US dollar on Wednesday.

Forex traders say that in addition to the Loka Sabha election results, crude oil prices are eased and the higher launch of the domestic stock market is also contributing to the rupee. Foreign funds flow out. However, the confidence of forex traders decreases.

Foreign institutional investors (FII) are net sellers in the capital market, pulling Rs 965.02 crore on Wednesday, according to temporary exchange data.

Brent crude oil in the market, which is the world oil standard, fell 0.58% to 70.58 dollars per barrel. The domestic stock market opened up strongly on Thursday, with both the Sensex and Nifty benchmarks that record the highest ever.