Rupee gains 32 paise to close at 82.27 against U.S. dollar

The foreign exchange market was closed on Wednesday on account of Gudi Padwa.

March 23, 2023 05:21 pm | Updated 05:21 pm IST - Mumbai

Indian currency notes. File

Indian currency notes. File | Photo Credit: REUTERS

The rupee gained 32 paise to close at 82.27 (provisional) against the U.S. dollar on Thursday, tracking the weakness of the American currency in the overseas market.

Traders said the weak U.S. Dollar and decline in U.S. Treasury yields on the back of dovish Federal Open Market Committee (FOMC) boosted investor sentiments.

The 25 basis points interest rate hike by the US Federal Reserve was on the expected lines, and the declining crude oil prices boosted the overall sentiments, they added.

At the interbank foreign exchange, the domestic unit opened strong at 82.38 against the dollar and gained further ground and finally settled at 82.27 (provisional) against the American currency, registering a gain of 32 paise against its previous close.

In intra-day trade, the rupee touched a high of 82.08 and hit the lowest level of 82.41 against the greenback.

On Tuesday, the rupee settled at 82.59 against the U.S. dollar.

The foreign exchange market was closed on Wednesday on account of Gudi Padwa.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.03% lower at 102.31.

Global oil benchmark Brent crude futures declined by 0.93% to $75.98 per barrel.

The 30-share BSE Sensex closed 289.31 points or 0.50% lower at 57,925.28 points while the broader NSE Nifty fell 75.00 points or 0.44% to 17,076.90 points.

Foreign Institutional Investors (FIIs) turned net buyers in the domestic capital market on Wednesday as they purchased shares worth ₹61.72 crore, according to exchange data.

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.