In the opening trade, Rupee increased by 16 paise to 68.53 on the US dollar on Monday.

The rupee began at 68.59 at the interbank forex market then obtained more area to reach 68.53 per dollar, representing gains of 16 paise above its previous close.

The rupee had fixed at 68.69 on the US dollar on Friday.

Forex dealers stated, rising crude oil costs and positive opening in domestic equities strengthened the rupee. The foreign capital flows shown on the domestic currency and limited the up move.

Brent crude, trade was at 66.64 per barrel below by 0.12%.

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