Rupee rises 39 paise to 70.30 against US dollar

Rising for the eighth straight day, the rupee climbed 39 paise to 70.30 against the US dollar in early trade on Monday, as global crude prices slipped below the USD 60 per barrel mark.

Traders said the weakness in the greenback against some currencies overseas and a higher opening of domestic equities supported the rupee.

At the interbank forex market, the rupee opened higher at 70.48 and rose further to quote at 70.30, showing a rise of 39 paise over its previous close.

The rupee had rallied 77 paise to end at 70.69 against the US dollar on Thursday, in lock-step with softening crude oil prices and foreign capital inflows.