The local currency recovered on questionable RBI intervention after hitting a record low of 83.29 during the session.
The local currency recovered on questionable RBI intervention after hitting a record low of 83.29 during the session.
The rupee on Thursday closed 25 paise higher at 82.75 (provisional) from its lifetime low against the US dollar amid weakness in the greenback overseas.
Forex traders said fag-end buying in domestic equities also strengthened the sentiment.
However, rising crude oil prices in the international market limited the rupee’s gains.
The local currency recovered on questionable RBI intervention after hitting a record low of 83.29 during the session.
In the interbank forex market, the local unit opened weak against the greenback at ₹83.05 but later lost ground to bid at ₹83.29. It also touched an intra-day high of Rs 82.72.
The rupee closed all its losses at ₹82.75 (provisional), registering a gain of 25 paise over its previous close.
In the previous session, the rupee had closed at an all-time low of Rs 83 against the dollar.
In the domestic equity market, the 30-share BSE Sensex closed 95.71 points or 0.16% higher at 59,202.90, and the broader NSE Nifty climbed 51.70 points or 0.30% to end at 17,563.95.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.17% to 112.79.
Global oil benchmark Brent crude futures rose 1.17% to $93.49 a barrel.
Foreign institutional investors (FIIs) were net sellers in the capital market as they sold shares worth Rs 453.91 crore on Wednesday, according to exchange data.