Markets

Rupee surges 17 paise to 76.03 against U.S. dollar

Image used for representational purpose only. File

Image used for representational purpose only. File  

At the interbank foreign exchange market, the rupee opened strong at 76.16 and it further rushed to touch a high of 75.98 during the trade.

The rupee on Monday appreciated 17 paise to close at 76.03 (provisional) against the U.S. dollar in line with positive equity markets amid sustained foreign fund inflows.

Besides, a weak U.S. dollar against major global currencies also aided the rupee’s upward movement, forex dealers said.

At the interbank foreign exchange market, the rupee opened strong at 76.16 and it further rushed to touch a high of 75.98 during the trade.

The domestic currency finally settled at 76.03 against the U.S. dollar, registering a rise of 17 paise over its previous close of 76.20.

On the equities front, the 30-share BSE benchmark Sensex was trading 442.58 points higher at 35,174.31 and broader Nifty rose 123.10 points to 10,367.50.

Foreign institutional investors were net buyers in the capital market, as they bought equity shares worth ₹1,237 crore in the previous trading session on June 19, according to provisional exchange data.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.31% to 97.31.

Brent crude futures, the global oil benchmark, rose 0.21% to USD 42.28 per barrel.

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Printable version | Jul 11, 2020 5:24:48 PM | https://www.thehindu.com/business/markets/rupee-surges-17-paise-to-7603-against-us-dollar/article31890083.ece

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