The rupee on Friday corrected 62 paise to close at 80.78 (provisional) against the US dollar at the interbank foreign exchange market due to a fall in the dollar index with US consumer price index (CPI) data coming down. Traders said an uptrend in the domestic equity market and continued inflow of foreign investors also supported the rupee.
The rupee opened at 80.76 in the interbank foreign exchange market. After touching the day’s high of 80.58 and low of 80.99 during trading, it finally ended with a gain of 62 paise at 80.78 per dollar. The rupee had closed at 81.40 per dollar in the previous trading session.
Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas, said, “The Indian rupee strengthened on the back of a weak US dollar and a rally in domestic markets. Continued foreign inflows also supported the rupee.”
However, a rise in crude oil prices restricted the rupee’s gains. Meanwhile, the dollar index, which reflects the weakness or strength of the dollar against the world’s six major currencies, declined by 0.82 per cent to 107.31. Global oil benchmark Brent crude futures rose 2.56 per cent to $96.07 per barrel.
At the same time, the 30-share Sensex of BSE closed at 61,795.04 points, up 1,181.34 points.
According to stock market data, Foreign Institutional Investors (FIIs) were net buyers in the capital market. He bought shares worth Rs 36.06 crore on Thursday.
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(This news has not been edited by NDTV team. It has been published directly from Syndicate feed.)
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