Rupee opens 15 paise higher at 69.62 against US dollar

On Monday, the domestic unit signed off the last trading session of 2018 with 18 paise gains at 69.77 but clocked a 9.23 per cent fall during the year.

The rupee opened 15 paise higher at 69.62 against the US dollar on Tuesday. The domestic unit Monday signed off the last trading session of 2018 with 18 paise gains at 69.77. 

On a year-on-year (basis) the domestic unit clocked a 9.23 per cent fall, mainly due to sharp increase in the crude oil prices. 

Forex traders, however, said fundamentals are supportive for the rupee over the next 6-12 months amid supportive growth momentum, robust forex reserves. 

On Monday, the currency consolidated in a narrow range but broadly traded with a positive bias against the greenback. Weakness in the