On Wednesday, the rupee had closed 13 paise lower at 79.91 against the US dollar.
On Wednesday, the rupee had closed 13 paise lower at 79.91 against the US dollar.
The rupee on Thursday closed 26 paise higher at 79.65 (provisional) against the US dollar, tracking a firming trend in domestic equities.
In the interbank forex market, the local unit opened at 79.80 against the greenback and finally closed at 79.65 (provisional), registering a rise of 26 paise over its previous close.
Local unit during the session Intra-day High 79.64 and Low 79.85. seen against the US currency.
On Wednesday, the rupee had closed 13 paise lower at 79.91 against the US dollar.
The dollar index, which measures the greenback’s strength against a basket of six currencies, was up 0.12% at 106.58.
Global oil benchmark Brent crude futures rose 1.37% to $108.08 per barrel.
“The rupee traded positively on positive capital markets and negative dollar reaction following the Fed’s rise of 0.75 bps with a data-driven forward stance from Fed Chair Powell,” said Jatin Trivedi, VP Research Analyst, LKP Securities.
Mr. Trivedi further added that “higher crude oil prices restricted gains in rupee. The way forward can be seen in the range of 79.50-79.95”.
On the domestic equity market front, the BSE Sensex closed 1,041.47 points or 1.87% higher at 56,857.79, while the broader NSE Nifty jumped 287.80 points or 1.73% to settle at 16,929.60.
Foreign institutional investors remained net sellers in the capital markets on Wednesday, selling shares worth Rs 436.81 crore, according to exchange data.