The Indian rupee was oscillating between its gains and losses on Thursday tracking cues in domestic as well as international markets.
The currency has opened 2 paise higher at 69.33 against the greenback compared to its previous close of 69.35/$.
At 12:25 PM, IST, the currency was trading at 69.44/$, which is 9 paise down compared to its previous close.
The marginal appreciation in the domestic unit could be attributed to a sharp fall in Brent oil price, which is trading below its key level of $60/bbl.
However, weakness in the domestic equity markets and outflows in foreign investments capped the gain in the rupee. Equity benchmark indices were trading in the red on Thursday with the Sensex declining 254 points at 39,504 levels. The Nifty also slipped 76 points at 11,830 levels, well below its key level of 11,850.
In Friday’s trading session FIIs sold Rs1050cr worth of stock in cash. In the derivative market, FIIs sold Rs173cr of Index futures. In the Stock futures segment, FIIs sold Rs283cr worth of stock futures and sold Rs66cr stock options.