Markets

Rupee gains for 2nd straight day; settles 12 paise higher at 73.05/$

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

Rupee gained for the second straight day and closed 12 paise higher at 73.05 (provisional) against the U.S. dollar on Wednesday, supported by a rally in domestic equities and a weak American currency.

At the interbank forex market, the rupee opened at 73.11, and hit an intra-day high of 73.05 and a low of 73.14.

It finally finished at 73.05, higher by 12 paise over its last close.

On Tuesday, the rupee had settled at 73.17 against the American currency.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.07 % to 90.43.

On the domestic equity market front, the BSE Sensex ended 393.83 points or 0.80 % higher at 49,792.12, while the broader NSE Nifty advanced 123.55 points or 0.85 % to 14,644.70.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth ₹ 257.55 crore on Tuesday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, rose 0.70 % to $ 56.29 per barrel.

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Printable version | Mar 3, 2021 12:03:47 PM | https://www.thehindu.com/business/markets/rupee-gains-for-2nd-straight-day-settles-12-paise-higher-at-7305/article33617667.ece

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