Continuing its gains for the ninth consecutive trading session, the rupee on Tuesday closed 34 paise higher at 74.66 (provisional) against the US dollar, tracking positive domestic equities amid rising appetite for higher-risk assets.
In the interbank forex market, the local unit opened higher at 74.95 against the greenback and saw intra-day highs of 74.60 and 74.95 lows.
The rupee had risen by 3 paise to 75 against the US dollar in the previous session.
Forex traders said a positive move in Indian equity indices and stronger Asian currencies helped the sentiment, adding that trading this week is likely to remain limited ahead of the year-end holidays.
However, Omicron concerns and firming crude oil prices moderated the price appreciation bias of the local unit to some extent.
On the domestic equity market front, the BSE Sensex closed 477.24 points or 0.83% higher at 57,897.48, while the broader NSE Nifty ended 147 points or 0.86% higher at 17,233.25.
Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, fell 0.08% to 96.02.
Global oil benchmark Brent crude futures rose 0.57% to $79.05 a barrel.
Foreign institutional investors remained net sellers in the capital market on Monday as they sold shares worth 1,038.25 crore, according to stock exchange data.
,