Markets

Rupee gains 12 paise to close at 74.93 against U.S. dollar

Representational Image   | Photo Credit: Anitha Vikram

The rupee recouped its early losses to close higher by 12 paise at 74.93 (provisional) against the dollar on Thursday tracking gains in the domestic equity market and easing crude oil prices.

However, a moderately strong dollar overseas weighed on the rupee, forex dealers said.

At the interbank forex market, the rupee opened weak at 75.19, but recovered lost ground and finished 12 paise higher over its last close of 75.05.

During the trading session, the domestic unit witnessed an intra-day high of 74.92 and a low of 75.33.

The 30-share BSE Sensex advanced 259.62 points or 0.53% lower to close at 48,803.68. Similarly, the broader NSE Nifty rose 76.65 points or 0.53% to 14,581.45.

Brent crude futures, the global oil benchmark, edged lower by 0.36% to $66.34 per barrel.

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading slightly higher by 0.02% to 91.69.

Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out ₹730.81 crore on Tuesday, as per provisional data.

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Printable version | May 6, 2021 10:47:37 PM | https://www.thehindu.com/business/markets/rupee-gains-12-paise-to-close-at-7493-against-us-dollar/article34325969.ece

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