Markets

Rupee gains 7 paise to trade near 5-month high of 72.98 against U.S. dollar

Representational image.   | Photo Credit: P.V. Sivakumar

Advancing its gains for the third straight session, the rupee scaled a near five-month high of 72.98 against the U.S. dollar on Thursday in line with the buoyant equity market and sustained foreign fund inflows.

At the interbank Forex market, the rupee was 7 paise higher to trade at a level not seen since September 1, 2020.

On January 20, the rupee had settled at 73.05 against the American currency.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.18% to 90.31.

On the domestic equity market front, the BSE Sensex was trading 277.80 points or 0.56% higher at 50,069.92; and the NSE Nifty was up 84.35 points or 0.58% at 14,729.05.

Foreign institutional investors remained net buyers in the capital market as they purchased shares worth ₹2,289.05 crore on January 20, according to exchange data.

Brent crude futures, the global oil benchmark, rose 0.36% to $55.89 per barrel.

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Printable version | Feb 24, 2021 11:56:23 PM | https://www.thehindu.com/business/markets/rupee-gains-7-paise-to-trade-near-5-month-high-of-7298-against-us-dollar/article33623746.ece

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